This is a huge part of why cities have such high rent. There is enough housing, but huge swaths of apartments are sitting empty so they can be used in speculative portfolios. Then the landlice raise the rent of the units that are occupied and it artificially increases the value of their other empty properties.
Truly disgusting behavior. Star Trek type homeless riots are coming v soon if we dont get it in check.
Second homes. People own NYC homes and never even see them. It’s just an investment that sits empty.
This is a huge part of why cities have such high rent. There is enough housing, but huge swaths of apartments are sitting empty so they can be used in speculative portfolios. Then the landlice raise the rent of the units that are occupied and it artificially increases the value of their other empty properties.
Truly disgusting behavior. Star Trek type homeless riots are coming v soon if we dont get it in check.
Just wanted to note: I like “Landlice”
Thanks, it’s gender neutral