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If you ever go through the process of buying vacant land you’ll find the biggest risk is whether the city will ever let you build anything on it. Even a house b
by jdsully 3y ago
If you ever go through the process of buying vacant land you’ll find the biggest risk is whether the city will ever let you build anything on it. Even a house being there once before isn’t a guarantee. It could be the green belt, too close to an airport, or just zoned wrong.
At least in Canada land is not that scarce (even in desirable areas like the GTA) you just aren’t allowed to build on most of it.
This is why land development is so commonly associated with corruption. The best way to make money is to buy up artificially restricted land and bribe the government into letting you build.
- MostlyStable 3y agoNo but don't you see? They "have been building for decades" (in the sense that, every year, some small number of new units are built) and prices haven't fallen! So clearly "building more units" can't be the solution. That's just an excuse to line the pockets of developers! And besides, the "build more crowd" wants nothing but to "provide financial and regulatory incentives to developers", there is definitely no movement to remove regulations that prevent building! No, the author, who clearly has a deep understanding of this issue, has never heard of such nonsense.