Is Your Community Being Left Empty? Understanding the Debate on Vacant Homes

As Los Angeles residents recover from devastating wildfires, many are questioning why thousands of homes remain empty while families search for housing. "Why are there vacant houses here?" asked Ashleigh Rader, a Pasadena real estate agent. These concerns center around homes owned by individuals who live far away, turning properties into investments rather than livable spaces.

The situation isn’t limited to foreign buyers. About 6.1% of LA County’s housing stock is currently vacant, with many properties used seasonally or inherited by owners who haven’t found a use for them yet.

The Rise of International Investment

The trend of foreign property investment, particularly from Chinese buyers, gained momentum after the 2008 financial crisis. They were drawn to communities like San Gabriel Valley due to its cultural ties and real estate opportunities. However, stricter foreign currency regulations and surging U.S. property prices have led to a decline in these investments, dropping from 10.6% of home sales in 2008 to just 4.6% in 2024.

Despite the decline, many communities still grapple with how to address homes that sit empty, whether owned by foreign investors or local absentee owners.

The Real Impact on Local Communities

Empty homes can pose safety risks and increase resentment among residents, especially when housing is scarce. Former Altadena resident Joan Nguyen shared her struggle to find rental housing, facing landlords who demanded exorbitant monthly rents. Her story reflects how unoccupied properties could alleviate the housing crunch if put to better use.

“This is a great moment to make that leap and free up that inventory for the family who’s living in a hotel,” Nguyen said, calling for solutions that prioritize housing for displaced families.

Local Efforts to Curb Vacancy Issues

Cities like San Marino, Arcadia, and Temple City have implemented measures requiring absentee owners to register their vacant properties. Some have even proposed vacancy taxes, although success has been mixed. These efforts aim to encourage property owners to either occupy or sell their homes, reducing the number of unoccupied units.

However, achieving balance is key. As Janice Lee, a San Marino agent, explained, "I want to give them the benefit of the doubt, but we really don’t want to have another vacant home in our community."

The Future of Real Estate and Community Solutions

As debates around vacant properties continue, communities across Southern California are exploring ways to maximize housing availability without stifling investment. By implementing thoughtful policies and encouraging owners to make better use of their properties, both buyers and sellers can contribute to a healthier, more vibrant housing market.

Bottomline

If you’re considering buying or selling a property in Orange County, now is the perfect time to rethink how real estate can serve our communities. Let’s work together to create opportunities for families and individuals who are ready to make a home here. Contact me today to start your journey!

Reference: Dickerson, L. (2025, February 10). Vacant, foreign-owned homes draw criticism in LA post-wildfires. Canva. Retrieved from Inman.com