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I think its unfair that the source of these gross profits is due to limiting supply to the market and avoiding as much tax burden as possible. Fair would be if
by wasdfff 7y ago
I think its unfair that the source of these gross profits is due to limiting supply to the market and avoiding as much tax burden as possible. Fair would be if anyone could build anything anywhere however high and were taxed according to todays value. Real estate is not a free market, demand is massive and building supply is continually opposed to keep prices high.
- nf8nnfufuu 7y agoNevertheless, if the rules were known in advance, it seems the game is fair. For example if you ponder buying a plot of land, presumably the rules there would factor into your decision. If there was already a rule of "no skyscrapers", then everybody could have factored that into their decision. It would likewise be unfair to change rules after the fact, because it would devalue people's investments. As for tax rules, I can't comment. But that is a fault of the government, not of the landlords.
- nikanj 7y agohttps://www.nytimes.com/interactive/2016/05/19/upshot/forty-percent-of-manhattans-buildings-could-not-be-built-today.html https://www.nytimes.com/interactive/2016/05/19/upshot/forty-... Alas, mostly the rules have changed quite a bit to favour the incumbetents and the grandfathered-ins
- nf8nnfufuu 7y agoand who gets to change the laws? If it is the current residents at the time, maybe that is fair, too?