Re:South Korea: The only middle power of its kind
by refurb on Tuesday August 03, 2021 @08:43PM
(#28055995)
Whose building do they tear down and turn the value to $0? That makes no sense.
Re:South Korea: The only middle power of its kind
by onlyrealcuzzo on Tuesday August 03, 2021 @09:17PM
(#28056209)
First they can update codes so that nothing can be rebuilt in a significant portion of the city. Then they can condemn buildings that aren't up-to code after a certain point. Then they can order the buildings torn down after a longer point. Then they can make people happy by turning abandoned buildings into parks.
Governments can always find ways to limit the supply of housing. They've been doing it fabulously in most of the West for the last 30 years.
The government could just mandate old buildings get destroyed and turned into parks.
Remember, >55% of people are homeowners - they'll vote for anything that will protect the value of their homes - especially if non-homeowners pay for it entirely.