Quote:
Originally Posted by twister244
I would be willing to bet the most vocal of these groups aren't middle class though.....
Middle class people see this as an opportunity to get a high-paying Amazon job, or boost their equity where they live. If Amazon announced they were coming to Denver tomorrow (where I purchased my first one bedroom condo last year), I would gladly welcome them as it would boost my equity enough that I could get out of my mortgage PMI in less than a year from purchasing my first place. That's a win for me. Now.... many in Denver would lose their minds. But these folks would be lower-class folks in poorer neighborhoods that rent. Anyone who owns property serves to benefit from moves like this, unless their on a fixed income that can't accommodate increased property taxes, etc. Even in that case, they could cash out and make a ton of money off their initial purchase. It really comes down to a situation of who this benefits and who it doesn't. In my opinion though, this is a net benefit for many who live in LIC and nearby areas.
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1. The question of who benefits is entirely different than the question of whether or not this is morally acceptable.
2. The people benefitting are in the immediate vicinity, but those paying taxes are the whole state. So everyone not in the immediate area can claim a net loss.