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That just begs the question: why can't we leave the system as is, because at some price, the tax assessment on a vacant building without any tenant revenue will
by lr4444lr 9y ago
That just begs the question: why can't we leave the system as is, because at some price, the tax assessment on a vacant building without any tenant revenue will push the landlord to offer a lease price for which there is demand?
- lotsofpulp 9y agoBecause the timeframe of the system's feedback loop is too long. By the time the landlord reacts and accepts a lower price point, the customers might have had to move on to a different location, or the business operators too. The whole reason we even have cycles of growth and contraction is because feedback loops are too slow so we always react too slowly, and when we do we over correct. But that might be an unsolvable problem and just a fact of nature.