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> Whereas if you allow market rate on all apartments you've given landlords collecting rent an incentive to impede all kinds of property development which might
by rory 5y ago
> Whereas if you allow market rate on all apartments you've given landlords collecting rent an incentive to impede all kinds of property development which might bring rents down
This incentive still exists if only some of the apartments are market rate, right?
- pydry 5y agoYes, amongst a smaller bloc with commensurately less power.
- rory 5y agoWhere does the power come from, in your model? Money? Apartments controlled?
- pydry 5y agoPolitical power? Numbers. How else did you think development gets canceled in city planning meetings? When one person turns up out of 70 to impede development or when 50 do?
- rory 5y agoHm I'd never considered that angle. I buy that it is an effect, but I'm not confident it's general or stronger than other effects (often in the other direction). For instance, in my neighborhood, (market rate) landlords generally want new residential development, because it's seen as something that will have a gentrifying effect on the area and bring up property values in general. That mentality presumably doesn't apply to neighborhoods that are already rich, though.