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I would agree with you typically, but it seems in this case in Tahoe, if you don’t interfere in the market, the businesses will eventually either go out of busi
by underseacables 5y ago
I would agree with you typically, but it seems in this case in Tahoe, if you don’t interfere in the market, the businesses will eventually either go out of business, or the economy will stagnate. Property owners are not willing to lower their price, why should they? Businesses can only raise the money they’re willing to offer so much. They could raise prices but then you run into a tipping point where people say you know Tahoe is just too expensive to get a sandwich. Eventually it’s a race to the top, but the top is a cliff.
I guess the businesses could close and people could just stop going to Tahoe all together.
- labawi 5y agoAs services raise prices and/or quality suffers, the desirability falls, and so will the housing prices, unless the owners like a private resort. It may take time. Agree with the land value tax (if you don't have it) - it would flatten and speed things up.