Similar story from West Vancouver: a friend who is a firefighter has told stories about getting calls to mansions and finding them completely overrun with weeds and climbing vines, windows broken, homeless encampments in the backyards. There is no fire, the house has just degraded to the point that moisture or weeds or a trespasser has tripped the fire alarm somehow. It’s clear no one has actually lived in them for a number of years. But the local real estate market is seen as a nice safe place to park money.
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Land rents…now.
The value of those properties was created by the people who live and work in London and they should get the dividends in the form of rent payments from landholders.
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But seriously, if you buy housing, and don’t occupy it, you should pay high taxes on it. Maybe even 100% the appraised value annually. Land is an extremely limited resource and it’s too valuable to waste on rich people’s games.
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Yeah it’s not a simple process but it’s been done and can be done definitely not simple or easy tho.
That is such a great observation. Thank you.
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This is an interesting article about Kazkahstan’s former president, who owns a house on Billionaire’s Row.
Someone bites a policeman! Lavish circumcision parties!
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Exactly. This seems like a prime opportunity for squatters who can maintain the facade of being “staff”. Just tell everyone who asks that you’re the new caretaker. Maybe have some phony employment documents made up. Keep it up for the required 12 years or whatever the local squatters rules state.
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