Daniel_

Because the owners know that in time (maybe years) the price will bounce right back.

Say you bought a house for $50k in the 90s.

Last year it was worth $250k.

That's $200 in your pocket.

Bu today it's empty and you'd have to drop th price to $100k to clear it.

You know that in 10 years time it'll be worth $300k.

Why sell now at a "loss" of $200k investment income?

Under English law, if squatters move in and stay, they get rights to rent or even OWN the place after certain durations, so keeping it vacant and policing that could well be your pension fund.

You sell it cheap to help the homeless you can be sure the homeless aren't going to help you during your now unfunded retirement.

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Overhead, the Albatross hangs motionless upon the air,
And deep beneath the rolling waves,
In labyrinths of Coral Caves,
The Echo of a distant time
Comes willowing across the sand;
And everthing is Green and Submarine
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