San Francisco saw the number of vacant housing units go from about 33,300 in 2015 to 40,458 in 2019.
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Vancouver, British Columbia, is among the cities that have imposed an empty home tax. The Canadian city adopted the tax in 2016, and its overall vacancy rate decreased from 4.3% to 3.1% as a result, with 1,676 units returning to occupancy in 2018, followed by an additional 220 in 2019, the report said. Vancouver’s tax generated the equivalent of about $21.3 million in 2019; the city used the net proceeds for affordable housing initiatives, the report said.
"The main idea was to look at the issue, to quantify it and get some data on the issue of residential vacancy," added Preston, who represents District 5, which includes areas such as Haight Ashbury, Hayes Valley, Japantown and Western Addition."There has been a lot of anecdotal talk, but there hasn't been a systematic look at it."
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