Homeowners keep 7.2 million single-family homes empty amid housing shortage

7 articles · Updated · The New York Times · Apr 30

Flock Homes says older owners are especially likely to hold properties off the market across the 49 largest US metro areas because selling can trigger six-figure tax bills.
In Los Angeles, owners aged 65 and over face average exit taxes of $185,000, versus about $10,000 a year for insurance, maintenance and property taxes on an empty home.
The analysis points to capital gains and depreciation recapture taxes, while inherited homes can receive a stepped-up basis that wipes out accumulated gains, encouraging owners to wait rather than sell.

Could a nationwide 'Empty Homes Tax' be the key to unlocking the housing market for first-time buyers?

Why is it more profitable for millions to leave homes empty rather than sell them to families in need?