2 ms·
> landowners are not creating economic value. ... They are leaching off the productivity of the city. I think this is the nub of it. Whilst increasing rents mi
by bartread 7y ago
> landowners are not creating economic value. ... They are leaching off the productivity of the city.
I think this is the nub of it. Whilst increasing rents might look good in the context of an economist's "perfect" model, the reality sucks ass for actual human beings trying to make a living and have a decent quality of life. And I cannot overstate the importance of the latter.
I don't pretend to know what the answer is here, particularly not in the context of a US economic and legal milieu (I'm from the UK), but it certainly seems like there's a strong disparity in power between landlords and tenants (possibly fostered by the legislative environment) that needs to be addressed.
- javagram 7y agoIn an economist’s perfect model, land owners could sell their land to developers or build apartments on it themselves. Supply and demand would keep prices from rising. In practice, regulations and zoning stifle the operation of the “perfect” economic model and you get what we see now.