those held off market usually means summer houses and the like.
and just natural turnover - people moving, outgrowing their home (or on the other end when someone leaves the home, or pass away) - leads to a vacancy of millions of homes. people usually harp about this a lot, and I also think it would be good to get people into homes, even if temporary, faster. but the effective solution is land value tax, and high density. everything else is just bad and worse trade-offs (like rent control and various machinations with 'affordable' units, and so on).
regarding highrises, I noticed that they mostly look the worst when they are new. everyone is moving in, elevators are full of scratches. there's a lot of ongoing construction (inevitably there will be someone from a hundred tenants, who wants to change something). and then eventually it settles into some steady state. ... so this forced cycling or whatever this management company did is just 120% WTF to me.
and just natural turnover - people moving, outgrowing their home (or on the other end when someone leaves the home, or pass away) - leads to a vacancy of millions of homes. people usually harp about this a lot, and I also think it would be good to get people into homes, even if temporary, faster. but the effective solution is land value tax, and high density. everything else is just bad and worse trade-offs (like rent control and various machinations with 'affordable' units, and so on).
regarding highrises, I noticed that they mostly look the worst when they are new. everyone is moving in, elevators are full of scratches. there's a lot of ongoing construction (inevitably there will be someone from a hundred tenants, who wants to change something). and then eventually it settles into some steady state. ... so this forced cycling or whatever this management company did is just 120% WTF to me.