[meme] How would you rather see this land developed? - eviltoast
  • skulkingaround@sh.itjust.works
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    1 year ago

    The financial incentives don’t line up because there isn’t enough (affordable) housing supply. Build more and they will be forced to drop their rates or sit vacant forever losing money. Some areas also have ass-backwards tax schemes that allow you to write off lost income from a “vacancy” as a loss. I’m not sure if Seattle does this but that is another major driver of those obnoxiously high rent vacant apartments in some areas.