Comment on @jack_toohey on why the housing crisis is not caused by migration

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null_dot@lemmy.dbzer0.com ⁨1⁩ ⁨day⁩ ago

I don’t think that says what you think it does.

It doesn’t suggest that speculative vacancies are a driver of the housing crisis in Australia.

“Buying to Rent” means buying with no intention to sell after a given period of time. It means making an investment focused on the annual rent return.

Speculative real estate investment can lead to homes being left vacant for quite long periods of time

Often a speculative investor might leave a home vacant while they list it for sale. That’s not the same as purchasing a property with the intention of leaving it vacant.

in some cases this helps to preserve their condition for resale and saves the investor from having to shell out for upkeep and maintenance

This doesn’t make any sense at all. An investor reluctant to “shell out” for upkeep and maintenance is exactly the type of investor that needs the regular rent income to help cover the other costs of ownership like rates, body corporate, interest, et cetera.

Census data shows dwelling occupancy rates have been consistent over the last 15 years:

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Note that these rates do not imply “speculative vacancy” is ~10%, as there are many reasons a property may be vacant on census night. They do however demonstrate that vacancy is not the cause of the current housing crisis.

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