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Smoofinator t1_ja3zhe8 wrote

Reply to comment by paradox34690 in Florida city opens nature preserve after citizens helped save it by Metlman13

Same. Everywhere I look in Pinellas, there's a new apartment block or subdivision. I'm so glad people came together to preserve a piece of this beautiful place.

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kerfungle t1_ja5ds33 wrote

This is how naples is getting, nobody to fill all these apartments but they're still going up

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DatGearScorTho t1_ja5eg8w wrote

People don't have to inhabit them for them to make money, unfortunately.. this is becoming a thing in the US also. Whole apartment blocks go up and are intentionally priced so high nobody can live there because tenants get in the way

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kerfungle t1_ja5g9j0 wrote

My bad bro I was referring to naples Florida 😂

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EmbarrassedNaivety t1_ja5hvnc wrote

How do they make money off of it if there are no tenants? Sounds like it’d cost a lot of money to build and maintain something like that so I’m just curious the reasoning if they don’t intend to rent out

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ApostateX t1_ja5jr0h wrote

Not the commenter you responded to, but I think they're overstating the problem a bit. Some of these places are purely used as second homes. The owner only lives in them for a very limited part of the year, and the rest of the time they sit empty. They're also used as investment properties. Maybe a company buys them to sit on the unit(s) for several years hoping to flip and sell, or they could be foreign purchased units....

Ultimately, if you're not earning money from a commercial or residential tenant then they're not "making money" off the property . . . until it's sold. And I *think* that's the point the other commenter was making.

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