A job-seeker may pass on an offer that he considers too low (because he's confident he will find something better later), no one would say he's doing so to avoid paying income taxes.
The overall portfolio cash flows profit, and capitalization is sufficient to ride out 10-20 year cycle minima on the minority of the portfolio sitting vacant until asset appreciation works in their favor again. These holdings are so large they overwhelm lay people's sense of what is feasible. This model only breaks down in "perfect storm" secular changes set within a dysfunctional government context like Detroit, and only then do you see true abandonment and not just vacancy.
To these holders, how these vacancies work is a feature, not a bug.
https://thetyee.ca/Solutions/2018/06/04/Tax-To-Solve-Housing...
This doesn't mean I want to toss out all economics, but some discerning skepticism about the descriptive (not to speak of predictive or prescriptive) modeling power of economics is in order, certainly at macro scales.
What to do about all this? I think a start was expressed by Iain A Banks in his The Culture storytelling universe, where he said "Money is a sign of poverty." My take on that is all capitalists should be striving to achieve a world where money is a historical artifact, because money is only used as a tool to advance science sufficiently to unlock post-scarcity material and cognitive abundance. In other words, capitalists should be working to progressively put themselves out of a job as capitalists, driving down the cost of every material good to the point it is cheaper to subsume it as a general utility everyone pays for than to leave it outside the Cosean boundary.
In practical, actionable terms today, I suspect this means forming inter-generational and intra-generational cooperatives as a defensive measure by the under-capitalized against predations (sometimes not even conscious or intentional) by the well-capitalized. That's a tough problem to solve.