5 ms·

Yes but I think the suggestion is that the taxes ought to (eventually) exceed the gains from asset value growth. We should want active main streets, and discour

• dionidium 5y ago
  A much better solution is to eliminate the zoning restrictions that lock properties into specific uses and ease the permitting process that makes it hard to convert these empty storefronts into something else (while also discouraging speculation by letting supply naturally grow to meet demand). But, frankly, even if I'm wrong about that, the point of my original comment is that the OPs claims make no sense, because, again, the implication that they can come out better under the current regulations by keeping the units empty is incorrect. It is arithmetically wrong. They would make much more money if they leased the units. So whatever explains these empty storefronts, it isn't this: > Fast forward to today, all of those stores and more are shuttered... the rent is still too damn high... and the absentee landlords that own these buildings are actually rewarded with property tax benefits for keeping them EMPTY! Unless what OP means by "[they're] rewarded with property tax benefits for keeping them EMPTY!" is that they lose money relative to their other options. I don't know why this explanation appeals to so many people; it doesn't survive a second of scrutiny.