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Seems that 'not in my back yard' is a big problem. So what about a rule that says, "If you build a high-density apartment you must financially compensate nearby
by MarkMc 9y ago
Seems that 'not in my back yard' is a big problem. So what about a rule that says, "If you build a high-density apartment you must financially compensate nearby residents"?
- nsnick 9y agoNearby residents are already compensated. When you build a high density apartment, the value of land near it goes up.
- MarkMc 9y agoThe value of the land goes up, but the potential rental income goes down due to increase in supply. For house-owners the net change in property value will likely be positive, but for apartment-owners it might well be negative. In any case, support for NIMBY suggests the current level of financial compensation is insufficient.