4 ms·
Nobody said commercial real estate was risk free free money in some abstract financial product, other than the doofus who wrote this long "note." The hard fact
by doctorpangloss 4mo ago
Nobody said commercial real estate was risk free free money in some abstract financial product, other than the doofus who wrote this long "note." The hard fact is these are real buildings in real places that aren't really fungible at all. So it seems kind of ridiculous that CRE investors should be insulated from every possible externality. Obviously the right thing to do is to tax vacant properties, and then we shall see how many stay vacant and how many foreclosures there are (hint: owners suddenly find capital and are able to pay the tax or rent things out and nothing ever gets foreclosed in every one of these scenarios where it actually happens).
- grebc 4mo agoWhat you’re proposing is a brand new tax just because you don’t like people who play by the rules as written. Well done. Way to encourage people to not do things.
- scraptor 4mo agoThe specific proposal is not great but changing the rules is in fact the correct solution of the current rules lead to systematically bad outcomes.
- grebc 4mo agoHow is it systematically bad? Is there a banking crisis?
- doctorpangloss 4mo agoi think you are on the first step of the journey to seeing that neither math nor maximizing $ is the solution to all problems. it's not even the solution to most problems.
- BrenBarn 4mo agoHave you heard of this thing called people being happy. . .
- grebc 4mo agoWhat’s that got to do with a bunch of empty buildings that people in this thread do not own?