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The government shouldn't bail out CRE, they should let them fail, spend the money to purchase the properties at bargain auction prices, renovate them, and rent
by candiddevmike 3y ago
The government shouldn't bail out CRE, they should let them fail, spend the money to purchase the properties at bargain auction prices, renovate them, and rent them out at cost. Ideally the government should provide housing to anyone, not means tested, one bedroom per person or partnered couple. Because shelter is a human right.
- closeparen 3y agoThere are more individuals and couples than bedrooms. Now what.
- 3c6bYDXLMj 3y agoWell let’s just not do anything!
- culopatin 3y agoWhy should the government buy them instead of providing the grounds for private party to access the real estate and do it themselves? Where do you draw the line? Should the government continue to push companies to fail so they can buy more land until they own it all? I’m low income and I work hard to afford living in SF and I don’t agree with having to pay even higher taxes for the government to waste 80% of that on bureaucracy and 20% in housing. I agree with you in that they shouldn’t bail anyone out, but I think they should just operate in their realm: zoning, code and incentives to entice the change to residential.