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Because it's unsustainable.What would be the incentive to chill?
I get why we as civilians want it to happen, but from the other side of the table, why would they chill?
Eventually, it's going to be like Canadian cities (or American universities), where the administration will have to turn towards wealthy foreigners to keep their housing occupied and their cities going. The reverse is people relocating, and without people to keep the local economy alive, everything crashes.
BTW, Canadian cities have had to implement surcharge taxes on housing that was owned but not occupied to force people to either rent or sell.
In Germany, Berliners are trying to get their cities government to pass laws to limit the number of units a real estate company can own in the city to prevent the rise of housing costs beyond affordable levels. 85% of Berlin rent, and the housing stock is controlled by 2-3 companies.