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Andy Kerr's avatar

I read a lot about these issues, and this is the clearest thing I've ever read, and yet detailed enough to fully describe a really complicated market that's not well. Bravo on this launch! I'm curious if you think short-term rentals (pre/post pandemic) have a significant impact on this data and/or the supply issue? It's something I worry about a lot here in Long Beach, but like a vacancy tax, I think difficult to regulate an easy solution. I think unfortunately requires even more future production than would have been necessary w/o that new pressure on available housing...something we're obviously not very good at.

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Peter Hurley's avatar

One point I see a lot in discourse about vacant properties is the idea of wealthy (usually foreign) investors buying luxury properties and leaving them vacant as investments or very occasionally used pieds-a-terre. This is especially prevalent in discussions I've seen in NY and Canada. Indeed, it's so politically salient that I think now all 3 major national Canadian parties are proposing some sort of foreign buyer restriction in the current election.

I've always thought this was mostly BS and a very small slice of the market, but I'm really curious if you know of some sources on it to quantify the question.

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