3 ms·

Sounds like a really good scenario for your city since those units will be providing shelter from the elements for many decades to come. I can’t imagine why you

by woah 8y ago

Sounds like a really good scenario for your city since those units will be providing shelter from the elements for many decades to come. I can’t imagine why you wouldn’t be happy about this unless you stand to profit from a housing shortage.

rabidrat 8y ago
They can sit empty for a long time, becoming unkempt eyesores and possibly methlabs. Vacant property is not a positive.
- fjp 8y ago
  Because the private equity firms invested in them would rather them fester and rot than offer them to low-income people in need.
  - rabidrat 8y ago
    To be honest, I've been a landlord of an underwater property I couldn't rent, and decided to be nice to a low-income person in need. Within short order her alcoholic boyfriend moved in and triggered her latent alcoholism and the parties started happening and ultimately the place was left worse off than when they had arrived. Luckily they did not create the aforementioned meth lab or cause any structural damage. But these days I'm much more sympathetic to property owners letting their vacant property lay fallow, rather than incur the liability (financial and/or legal) of helping someone out. As they say, no good deed goes unpunished.
    - m0llusk 8y ago
      Property management is a profession with accompanying knowledge. Watch for trouble and evict bad tenants quickly. Laws that make things easy for landlords encourage better practice and markets that function better for everyone.
ABCLAW 8y ago
Infrastructure requires maintenance, and the tax base of a given piece of infrastructure is generally funded by the amount of property tax recovered in the area; this means that inappropriate developments aren't just misaligned investments; they're also a continuing stream of expenses for years to come which is ultimately borne by the rest of the community. Now this isn't necessarily what will happen, but the relationship between communities and development is more involved than 'development = more resources for the community'.

by woah 8y ago

rabidrat 8y ago

They can sit empty for a long time, becoming unkempt eyesores and possibly methlabs. Vacant property is not a positive.

fjp 8y ago
Because the private equity firms invested in them would rather them fester and rot than offer them to low-income people in need.
- rabidrat 8y ago
  To be honest, I've been a landlord of an underwater property I couldn't rent, and decided to be nice to a low-income person in need. Within short order her alcoholic boyfriend moved in and triggered her latent alcoholism and the parties started happening and ultimately the place was left worse off than when they had arrived. Luckily they did not create the aforementioned meth lab or cause any structural damage. But these days I'm much more sympathetic to property owners letting their vacant property lay fallow, rather than incur the liability (financial and/or legal) of helping someone out. As they say, no good deed goes unpunished.
  - m0llusk 8y ago
    Property management is a profession with accompanying knowledge. Watch for trouble and evict bad tenants quickly. Laws that make things easy for landlords encourage better practice and markets that function better for everyone.

ABCLAW 8y ago

Infrastructure requires maintenance, and the tax base of a given piece of infrastructure is generally funded by the amount of property tax recovered in the area; this means that inappropriate developments aren't just misaligned investments; they're also a continuing stream of expenses for years to come which is ultimately borne by the rest of the community. Now this isn't necessarily what will happen, but the relationship between communities and development is more involved than 'development = more resources for the community'.