Yesterday I read a post by @Patrick that talked about the boss of his boss owning multiple homes (one of which is on the Peninsula), it got me thinking...
With all the talk about how low the inventories are on the Peninsula, I'm curious about the following:
1.) How many homes exist on the Peninsula today (I'm talking single family homes)?
2.) What fraction of these homes are owned by people that own multiple homes? I'm not referring to rental properties. I'm referring to owning 2nd, 3rd, 4th etc homes that are not rentals and can only have the owner occupy one at a time, leaving the others vacant. I think the reason Patrick used is that the wife of the owner doesn't want strangers renting their spare houses due to expensive furniture, or something to that effect.
I guess I'm interested to know the % of homes on the Peninsula today are not occupied at any given time because some rich person is living in their Manhattan apartment for many months out of the year...
I have a friend (owns his own company) that owns 10+ homes here in the Bay Area - unoccupied! He owns another couple dozen rental properties. It really makes me wonder how common this is and how many of these homes are sitting around with nobody in them at any given time?
I know this data wouldn't be easy to obtain and isn't readily available, but how would we go about finding this information, even if it's just a ballpark estimate? It would be interesting to break this down by Bay Area County.
Yesterday I read a post by @Patrick that talked about the boss of his boss owning multiple homes (one of which is on the Peninsula), it got me thinking...
With all the talk about how low the inventories are on the Peninsula, I'm curious about the following:
1.) How many homes exist on the Peninsula today (I'm talking single family homes)?
2.) What fraction of these homes are owned by people that own multiple homes? I'm not referring to rental properties. I'm referring to owning 2nd, 3rd, 4th etc homes that are not rentals and can only have the owner occupy one at a time, leaving the others vacant. I think the reason Patrick used is that the wife of the owner doesn't want strangers renting their spare houses due to expensive furniture, or something to that effect.
I guess I'm interested to know the % of homes on the Peninsula today are not occupied at any given time because some rich person is living in their Manhattan apartment for many months out of the year...
I have a friend (owns his own company) that owns 10+ homes here in the Bay Area - unoccupied! He owns another couple dozen rental properties. It really makes me wonder how common this is and how many of these homes are sitting around with nobody in them at any given time?
I know this data wouldn't be easy to obtain and isn't readily available, but how would we go about finding this information, even if it's just a ballpark estimate? It would be interesting to break this down by Bay Area County.
#housing