That’s fine for NYC, but it doesn’t hold true for California… And is completely insane thinking when the rate of return for rentals is so high. No sane person does what you describe… And if you actually READ the article you quoted, you’ll see a significant number of those units have been off the market for a very long time as VERY high end units or in the process of becoming occupied… But again, that’s NYC. California has fully one quarter of the homeless nationwide. So let’s try again, shall we?
