Alot of the neysayers in here must have forgotten AirBnB rentals and shit is over a 100$Billion$ per year business. So why would rich people buy empty houses? They arent empty all year. They just have no resident living in them full time. Partial time rentals. Blackrock/Blackstone group are doing it all now in the Boston/Providence RI area. Alot of the private residences were picked up by corporations and are being rented out.
They prefer to have less homes available at higher prices because it's less work for the same or more money. Blackrock doesn't operate like normal businesses. They have 10 trillion in assets.
Alot of the neysayers in here must have forgotten AirBnB rentals and shit is over a 100$Billion$ per year business. So why would rich people buy empty houses? They arent empty all year. They just have no resident living in them full time. Partial time rentals. Blackrock/Blackstone group are doing it all now in the Boston/Providence RI area. Alot of the private residences were picked up by corporations and are being rented out.
They prefer to have less homes available at higher prices because it's less work for the same or more money. Blackrock doesn't operate like normal businesses. They have 10 trillion in assets.