Author Topic: political hobbyist thread  (Read 10302 times)

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Offline memphis

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Re: political hobbyist thread
« Reply #275 on: March 30, 2021, 11:58:51 AM »
On continued observation got me thinking more about rent seeking/speculation and what personal property taxes or a LVT are. DSA guy believes very much that wealthy people are driving up prices by holding onto what is now valuable property and not allowing it to be put to use. Which is a thing that makes sense as being possible and I'm sure is occurring, but I have no idea of the magnitude or if this is another flavor of eating the rich as the simple solution/capitalism sux.

Offline 8manpick

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Re: political hobbyist thread
« Reply #276 on: March 30, 2021, 12:46:38 PM »
On continued observation got me thinking more about rent seeking/speculation and what personal property taxes or a LVT are. DSA guy believes very much that wealthy people are driving up prices by holding onto what is now valuable property and not allowing it to be put to use. Which is a thing that makes sense as being possible and I'm sure is occurring, but I have no idea of the magnitude or if this is another flavor of eating the rich as the simple solution/capitalism sux.
There is a lot of rich (and also foreign rich) money tied up in high rise condos that get little use in Chicago and NYC. I assume this is true in other large cities as well.
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Online michigancat

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Re: political hobbyist thread
« Reply #277 on: March 30, 2021, 12:49:36 PM »
On continued observation got me thinking more about rent seeking/speculation and what personal property taxes or a LVT are. DSA guy believes very much that wealthy people are driving up prices by holding onto what is now valuable property and not allowing it to be put to use. Which is a thing that makes sense as being possible and I'm sure is occurring, but I have no idea of the magnitude or if this is another flavor of eating the rich as the simple solution/capitalism sux.
There is a lot of rich (and also foreign rich) money tied up in high rise condos that get little use in Chicago and NYC. I assume this is true in other large cities as well.

you also see quite a few instances of ludicrous rent increase -> eviction -> property sits vacant for months for commercial storefronts in high-rent areas.