A Boring Dystopia

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Renting: Can bidding wars be stopped? (www.bbc.co.uk)

submitted 10 months ago by dr_scientist@lemmy.world to c/aboringdystopia@lemmy.world

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I had no idea this was going on.

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[–] stolid_agnostic@lemmy.ml 7 points 10 months ago (1 children)

Some people would rather earn no money than some money. It’s weird and what happens commonly in Buenos Aires. I think it might be the sunk cost fallacy.

[–] deegeese@sopuli.xyz 12 points 10 months ago (1 children)

For investment property, the rent determines how much you can borrow against the property.

Long term it’s sometimes better to leave empty for a while than take the valuation hit.

[–] stolid_agnostic@lemmy.ml 1 points 10 months ago* (last edited 10 months ago)

Is "a while" 5 - 10 years? We're not talking about leaving it open for a season, but rather for years and years on end.