Re:Amsterdam's Plan: If You Buy a Newly Built House, You Can...
by Spooky23 on Thursday March 21, 2019 @08:20AM
(#19451448)
Economic mumbo jumbo isn’t the only consideration for policy like this.
Economic policy has left so much capital sitting around doing nothing that even marginal developments that are ultimately money losers are getting built everywhere.
Local governments ultimately are accountable to the people, and it’s appropriate for them to think about the impact on the civic space of these developments, that are often ultimately bad for the community.
Real estate is among the sketchiest of industries, and in the US at least almost all commercial projects are implicitly subsidized by the government. IMO anything that extracts value from developers is a good thing.
Economic policy has left so much capital sitting around doing nothing that even marginal developments that are ultimately money losers are getting built everywhere.
Local governments ultimately are accountable to the people, and it’s appropriate for them to think about the impact on the civic space of these developments, that are often ultimately bad for the community.
Real estate is among the sketchiest of industries, and in the US at least almost all commercial projects are implicitly subsidized by the government. IMO anything that extracts value from developers is a good thing.