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In a Free Market, I could build a cheap shack next to a wealthy neighborhood and lower their property values.
In a free market the wealthy neighborhood gets to decide how they want to run their neighborhood, you are free to go find a group of like minded shack builders. That's a free market.
Unless you are being sarcastic, your comment makes no sense.
People do not buy nor invest to lose money, nor do you work for free or slave wages in this country.
While the merits/detraction of rent control can be debated elsewhere, what makes you think a person should be able to find loopholes to try and take over for an elderly person who likely only has X amount of years to live there?
Another words, put yourself into the potential owners position where you calculate that some of the units have very low rent (well below market value), but the age of the occupants is limited to X amount of years. You make those calculations based on a solid business model including the local housing market, future of the neighborhood/community, existing higher rent units, etc.
Then you decide whether to buy or not.
However, you would not expect that people with low rent would make side deals to adopt someone just to pass on their place upon their demise with rental rates from the 1960's, that you might be stuck with for another 30 years.
Rest assured at $100 per month, those units are not breaking even, they are losing money for the owner who calculated the loss for X amount of years, not eternity.
In a free market the wealthy neighborhood gets to decide how they want to run their neighborhood, you are free to go find a group of like minded shack builders. That's a free market.
If I try and build a shack down the street and they say no, and call the police, they have just went to Big Daddy Government to protect them.
I tend to find the wealthy and big business the cause for the majority of regulations and policies that exist.
They actually despise free market capitalism and want to control the markets to their benefit.
If I try and build a shack down the street and they say no, and call the police, they have just went to Big Daddy Government to protect them.
I tend to find the wealthy and big business the cause for the majority of regulations and policies that exist.
You want to build a shack in a desirable neighborhood. What makes it desirable is enforced with zoning regulations. Go build your shack in the less desirable neighborhoods which are less desirable because of the shacks. If you are allowed to build your shack anywhere you please none of them are desirable.
Not likely since that would come out of their pockets.
The name of the game these days is to socialize the costs and make others pay for it.
If it were not so, politicians would not be lobbied so hard to the tune of billions a year.
That is not free market then.
Lobbyists are the swamp and should be drown.
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