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The lot is always cheaper, as long as the land is cheap. And in most of the US, even land that isn't all that cheap is often best left as a parking lot, economi
by hibikir 7mo ago
The lot is always cheaper, as long as the land is cheap. And in most of the US, even land that isn't all that cheap is often best left as a parking lot, economically: You can easily speculate with a parking lot with minimal investment, as the taxes for the empty lot are often low. See all the midwestern cities whose downtowns are 30-40% surface parking.
There are all kinds of bad externalities caused by seas of asphalt that is unused 95% of the time, but few countries are all that interested in using any mechanism to make the property owner pay for them.
- _aavaa_ 7mo agoI imagine land is more expensive in South Korea than in the US.
- TurdF3rguson 7mo agoBecause they do things like this (Green belt).
- _aavaa_ 7mo agoBecause they have a population density 5x that of the US.
- TurdF3rguson 7mo agoWe're comparing cities though. Seoul and Manhattan are comparable because they both have features that prevents sprawl.
- naveen99 7mo agoSouth Korea 13x more dense than usa. It’s even slightly denser than India.