But, hear me out; Poop buckets.
Comment on Millions can no longer afford their rent
c0mbatbag3l@lemmy.world 3 months agoExcept for the part where you have to rip out everything and build it virtually from scratch due to the severe lack of plumbing infrastructure to individual spaces in the same way that apartments require.
It sounds great, but realistically it’s almost easier to just demo the buildings and begin from the foundation.
Either way the issue isn’t the ability to construct apartments and/or condos, it’s the land being owned by people who either want it for a commercial use-case or it’s just being held for value increase.
M0oP0o@mander.xyz 3 months ago
dipshit@lemmy.world 3 months ago
I am fine with demoing the buidlings and creating new apartments / condos if that’s what it takes. It just seems like this wouldn’t be true for all buildings, but maybe most. You’re right that the owners of these properties are placing a huge bet on their buildings being used for commercial use again. The city should tax vacant buildings higher to discourage squatting on these properties by commercial investors.
c0mbatbag3l@lemmy.world 3 months ago
Land.
Value.
Tax.
dipshit@lemmy.world 3 months ago
Unless that’s what I just described (a land value tax), I’m not sure what you’re saying here.
c0mbatbag3l@lemmy.world 3 months ago
It’s exactly what you described.
Essentially people will hold onto property in order to make more money on it through land value inflation.
If we tax the crap out of property that isn’t being used, then either the tenant will do something with it or sell it to someone who will, instead of just waiting for the market to double their money while they play golf.