Overseas investors buying homes from afar and leaving them vacant

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About 30 percent of residential sales in Cambridge, England, are to overseas investors, who sometimes buy homes remotely and never move in, ITV’s Elodie Harper reports.

“Properties left empty for investment purposes in order to make a profit is clearly abhorrent, when there is a housing crisis and people need homes to live in,” Cambridge City Councilman Kevin Price tells ITV. Price said one solution would be to impose a steep tax on vacant properties. Source: itv.com.