The "Clevelandification" of Urban America (or how Manhattan is becoming a rich ghost town)

George_Apley

Not a Brahmin
Staff member
Joined
Jan 22, 2012
Messages
4,117
Reaction score
397
I’ll stop. I was just trying to point out that they are no different than others in wanting to maximize financial return. In the same way a tenant is greedy to want something cheaper than it is worth so they can have more money. No I’m not a landlord and not in the real estate business.
You don't have to stop, and I'm definitely not accusing you of having a conflict of interest (not that it would be problem if you were in the real estate business). I totally get you that people who make investments want to get as much return as they can get. I guess my ultimate point is that I see a conflict between the financial interests of real estate investors and the livability, walkability, and vibrancy of the 21st Century urban environment. Especially in the big metropolises that have been experiencing an economic boom for over 25 years.
 

HenryAlan

Senior Member
Joined
Dec 15, 2009
Messages
2,186
Reaction score
152
I think the way to look at it is by asking to what extent is the neighborhood (through deterioration of quality street interaction, subsidizing the landlord's decision. It's a classic case of the investor not paying for negative externalities.
 

jklo

Active Member
Joined
Feb 8, 2015
Messages
429
Reaction score
19
I think the way to look at it is by asking to what extent is the neighborhood (through deterioration of quality street interaction, subsidizing the landlord's decision. It's a classic case of the investor not paying for negative externalities.
I think once the recession gets going full steam, they will act to fill storefronts.
 

Top