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A lot of commercial property can’t be converted efficiently due to regulatory requirements in how the structures are constructed. It would be better to tear it
by anonuser123456 3y ago
A lot of commercial property can’t be converted efficiently due to regulatory requirements in how the structures are constructed. It would be better to tear it down in many cases.
- SoftTalker 3y agoOr change the regulations? That seems a lot easier and cheaper?
- dexterdog 3y agoThe problem is that those regulations are written by people who have vested interests in keeping the supply of residential real estate where it is.
- AnthonyMouse 3y agoRight, and the solution is to have them written by someone else, e.g. at the state rather than local level.
- dexterdog 3y agoDo you think those same people don't have the same kind of influence at the state level? If anything they have even more.
- AnthonyMouse 3y agoIn order to have a vote in local elections you have to live there. Then all the people who own property there vote for things that make housing scarce and increase their property value. The people who want to live there but can't because they can't afford it thereby don't get a vote there and can't vote to make it more affordable. But they do get a vote at the state level.