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Lots of things were already ghost towns. Even before covid, I am always seeing people with no buildings, and buildings with no people. I'm in SF now, but I have

Lots of things were already ghost towns. Even before covid, I am always seeing people with no buildings, and buildings with no people. I'm in SF now, but I have seen this in cities and small towns, red states and blue states: empty malls, hobo jungles down the block from me, friends with minimum wage jobs sleeping in cars, squatters getting the bum’s rush. I imagine there are good reasons to have less than %100 percent occupancy like renovation or tenant turn over, but I’m talking about the same places standing empty for months or years without a sale. If capitalism does what it says on the tin, I don’t get why can't we have a market cleaning price for buildings. Are we doing too much capitalism, or not enough? Is this just all very efficient but I’m not smart enough to figure out how?

lostmyoldone 6y ago
In many areas you can earn significantly without have tenants, if you can wait a decade to get paid. Having tenants is chore, and might make it impossible to sell the property for a different use. Market economy works fairly well as to get the most value from the least work. If you allow empty apartment buildings, you will have empty apartment buildings if that's likely the best risk/reward for the owner. It's not about too much or too little market economy, it's about accepting the proliferation about the wrong kinds of markets, markets that are not in the best interest of people. We don't accept trade in ivory because that's not good for the elephants, there's no reason to accept apartment buildings left empty when it's to the detriment of people. No economic policy will govern itself, especially not any policy claimed to do so.
- olalonde 6y ago
  Government regulations are generally to blame for empty apartment buildings. In a free market, it would make very little sense for a building owner not to rent it out.
lizardmancan 6y ago
yes... i guess... think of houses as bars of gold or bitcoins
lmm 6y ago
> If capitalism does what it says on the tin, I don’t get why can't we have a market cleaning price for buildings. Are we doing too much capitalism, or not enough? Is this just all very efficient but I’m not smart enough to figure out how? Mostly too little capitalism - buildings are very heavily regulated. Zoning, property tax, planning laws, rent control, and habitability laws are big factors. For example maybe it's illegal to rent out the building because the kitchens are too small, and renovating it would not only cost a lot up-front but also push up the property taxes, so you'd have to be confident of getting a return - and maybe you're intending to knock it down and build a replacement as soon as you get planning approval.

lostmyoldone 6y ago

In many areas you can earn significantly without have tenants, if you can wait a decade to get paid. Having tenants is chore, and might make it impossible to sell the property for a different use. Market economy works fairly well as to get the most value from the least work. If you allow empty apartment buildings, you will have empty apartment buildings if that's likely the best risk/reward for the owner. It's not about too much or too little market economy, it's about accepting the proliferation about the wrong kinds of markets, markets that are not in the best interest of people. We don't accept trade in ivory because that's not good for the elephants, there's no reason to accept apartment buildings left empty when it's to the detriment of people. No economic policy will govern itself, especially not any policy claimed to do so.

olalonde 6y ago
Government regulations are generally to blame for empty apartment buildings. In a free market, it would make very little sense for a building owner not to rent it out.

lizardmancan 6y ago

yes... i guess... think of houses as bars of gold or bitcoins

lmm 6y ago

> If capitalism does what it says on the tin, I don’t get why can't we have a market cleaning price for buildings. Are we doing too much capitalism, or not enough? Is this just all very efficient but I’m not smart enough to figure out how? Mostly too little capitalism - buildings are very heavily regulated. Zoning, property tax, planning laws, rent control, and habitability laws are big factors. For example maybe it's illegal to rent out the building because the kitchens are too small, and renovating it would not only cost a lot up-front but also push up the property taxes, so you'd have to be confident of getting a return - and maybe you're intending to knock it down and build a replacement as soon as you get planning approval.