Re:Why Billionaires Don't Pay Property Taxes in New York (2015)
by mullingitover on Tuesday May 11, 2021 @04:47PM
(#27123304)
> Currently developers build ultra-luxury property because it's way more profitable than building affordable property. This needs to change.
It's possible that developers build 'ultra-luxury' because building affordable property isn't profitable at all. Developing real estate in any major metro area in the US is insanely regulated and time-consuming.
It's possible that developers build 'ultra-luxury' because building affordable property isn't profitable at all. Developing real estate in any major metro area in the US is insanely regulated and time-consuming.