Summary of this chapter
What's wrong with vacant house?
Well, now you know why the increasing number of vacant houses could be a big problem.
The following shows why vacant houses the number of them increases.
- "Real estate as demerit goods” that are not used and burden owners are increasing.
- Unmanaged vacant houses become a breeding ground pests and criminals and decrease surrounding security and land prices.
- the response is tend to be slow at disasters.
- If vacant houses reduce the density of cities,the efficiency of commerce and administration will deteriorate.
This leads to urban decline and fiscal deterioration. In the worst case scenario,the government could go bankrupt.