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Sure ideally they would all be filled with renters. but building more buildings 90% empty isn't such a bad deal: the owners pay all the same property taxes wit
by pascalxus 8y ago
Sure ideally they would all be filled with renters. but building more buildings 90% empty isn't such a bad deal: the owners pay all the same property taxes without any burden on the local system for schools, traffic, etc. In fact, i'd say it's a great deal.
- sandworm101 8y ago>>> .. it's a great deal. Which is why we have elected officials run cities rather than property developers. The goal is not to make a profit today. The long term goal is a pleasant city with happy residents. Look at the Spanish neighbourhoods that were overbuilt only to be abandoned when the bubble burst. Think gentrification is bad? When an underused building looses its value it becomes blighted, saddling the city with all sorts of social problems.