There are a lot of unused homes and abandoned
buildings in my area that the city, county, and/or state refuses to do anything
with. They've been left alone for years because someone or some people are just
sitting on them. Meanwhile mortgage and rental prices keep going up and up and
it's been made pretty obvious that it's artificially done, even accounting for
the supposed "high volume of people who want to move into
California."There’s a problem with Chinese investors buying homes in
California and then not maintaining or using them for anything. It’s a way to
get their money out of China. There’s a documentary on how it affected a number
of neighborhoods in the Bay Area.Foreign investors buying homes and leaving
them empty is a problem in London too. Probably in most major cities. A lot of
people also buy to let, which can be a problem when insufficiently regulated.
Property is seen as an investment, and lack of home-building and development of
brownfield sites keeps property prices rising
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