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You may not believe it, but the situation is very well documented and certainly a thing that is removing housing stock from cities around the world.

Housing has a value as an investment, and leaving the housing unoccupied reduces the cost to maintain the investment. Tenants have a lot of protections in many jurisdictions, and an owner is responsible for maintenance, depreciation and damages, while a tenant cannot be evicted by the landlord who wants to sell a unit without a substantial waiting period, if at all.

https://bostonagentmagazine.com/2018/09/11/study-bostons-new...

https://nypost.com/2021/08/05/nearly-half-of-luxury-units-em...

https://www.nytimes.com/2017/07/21/upshot/when-the-empty-apa...