Re:JPMorgan to spend $1B on rental homes in the US to become...
by kaashif on Saturday December 31, 2022 @05:44PM
(#34201529)
I'm saying local government is generally heavily influenced by local property investors and will thus try to block all development.
You are right that NIMBYism isn't good for developing new housing, which is what JP Morgan is trying to do. How do they get past that initial hump? I don't know, but they obviously think they can.
But once that housing is built, there will be every incentive for JP Morgan to go ultra-NIMBY to protect their investment. Luckily, local government is very easy to push in that direction.
You are right that NIMBYism isn't good for developing new housing, which is what JP Morgan is trying to do. How do they get past that initial hump? I don't know, but they obviously think they can.
But once that housing is built, there will be every incentive for JP Morgan to go ultra-NIMBY to protect their investment. Luckily, local government is very easy to push in that direction.