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Financial incentives aren't there. Why would I redevelop and old house if it's cheaper for me to buy a lot and build new?
by only_as_i_fall 5y ago
Financial incentives aren't there. Why would I redevelop and old house if it's cheaper for me to buy a lot and build new?
- nine_zeros 5y agoCities should just add a deforestation/nature tax to new lots. The market will only have lots that already has a property on it. It is important for older cities to rejuvenate and when cheaper alternatives don't exist, they will be forced to redevelop. See how large cities redevelop in constrained areas.
- only_as_i_fall 5y agoA land value tax might be a more effective way to encourage redevelopment. That way it doesn't matter if unused land is in public or private hands.