3 ms·
How about you know just letting the market put commercial where customers are, next to residential. The market has no problems nor negative side effects of figu
by mlindner 5y ago
How about you know just letting the market put commercial where customers are, next to residential. The market has no problems nor negative side effects of figuring this out. If we just ban cities from trying to plan their cities in opposition to proper design the problem fixes itself. It’s such a ridiculous self inflicted wound.
- MrStonedOne 5y ago> The market has no problems nor negative side effects of figuring this out. Half the buildings with empty spaces in SF are likely tied up in CMBSs with terms that state that the value of the building is based on the value its renting units out at, and if they lower the rent they have to recollateralize the loan, but they can just apply missed rent from empty units to the end of the mortgage. https://www.reddit.com/r/nyc/comments/innhah/nearly_twothirds_of_new_york_restaurants_may_have/g49g4c5/?context=2 https://www.reddit.com/r/nyc/comments/innhah/nearly_twothird... The free market is about to create the commercial real estate version of the housing crash.
- unishark 5y ago> The free market is about to create the commercial real estate version of the housing crash. If so it's another correction that is sorely needed. Hopefully this time people are allowed to lose the money they richly deserve to lose.
- imtringued 5y agoYes, no more government bailouts of deposits. Just the $100k insurance.
- R0b0t1 5y agoI agree, but we need to also remove the weird subsidies related to real estate and their derivatives for this to actually work. Rent control, fed policy, etc, lead to certain types of land development being favored.