Quote:
Originally Posted by Vlajos
What if the owner of the 3 flat is an old couple with little in savings other than the huge amount of equity in their home? We punish them because some nitwit in city government hates the market? What if the 3 flat is in such bad shape that the cost of renovation is more than new construction? What would rents need to be to justify the cost? We must have some of the stupidest elected officials in the country. Let repeat violent offenders off because it is racist not to, but restrict homeowners from selling their property because that would be racist.
|
Who is getting punished? You assume that your theoretical old couple can't sell to a developer who will tear down their dilapidated three-flat and build a newer multi-unit development in its place? What is the purpose of building a giant SFH when developers are clearly willing to build multi-units in areas where it is allowed and economically feasible--like in expensive, transit rich neighborhoods.
Pretty weak strawman.