▲ 284 ▼ The hidden culprit driving America’s apocalypse of boarded-up storefronts is the banks (www.businessinsider.com) submitted 2 years ago by return2ozma@lemmy.world to c/news@lemmy.world 43 comments fedilink hide all child comments
[+] J12@lemmy.world 81 points 2 years ago (3 children) [deleted] permalink fedilink source hideshow 6 child comments replies: [–] Hildegarde@lemmy.world 63 points 2 years ago (1 child) 50% vacancy tax. Any property that is vacant for more than 50% of the year would require the owner to pay 50% of the assessed value, unless they can prove there is zero demand for the property at any price. Would solve the problem very quickly. It's a fair, equitable, market driven solution to the problem of real estate vacancies. But governments are much more concerned with maintaining the illusion of value, than effective land use. permalink fedilink source parent hideshow 2 child comments replies: [–] Franzia@lemmy.blahaj.zone 7 points 2 years ago (3 children) We have something better called eminent domain. permalink fedilink source parent hideshow 6 child comments replies: [–] restingboredface@sh.itjust.works 9 points 2 years ago (1 child) That would set a dangerous precedent though. permalink fedilink source parent hideshow 2 child comments replies: [–] Franzia@lemmy.blahaj.zone 2 points 2 years ago (1 child) Yeah I'm just kidding that would be a chaotic nightmare. permalink fedilink source parent hideshow 2 child comments replies: [–] w3dd1e@lemm.ee 2 points 2 years ago (1 child) I work in commercial loans for a living. I can’t speak to other properties that aren’t securitized, but they can’t exactly just take your property without approval. there are exceptions to the rule but it would still require a lengthy and pricey legal process. permalink fedilink source parent hideshow 2 child comments replies: [–] Franzia@lemmy.blahaj.zone 2 points 2 years ago I'm glad to hear it tbh permalink fedilink source parent [–] Hildegarde@lemmy.world 2 points 2 years ago Eminent domain requires the government to compensate the land owner with the "fair market value" for taking their land. As the "fair market value" is so overinflated that no one can afford to rent the space, taking vacant properties through eminent domain is not a solution. permalink fedilink source parent [–] kemsat@lemmy.world 2 points 2 years ago 👆 permalink fedilink source parent [–] partial_accumen@lemmy.world 14 points 2 years ago There’s an old fast food restaurant near my neighborhood, boarded up, trash everyone, it’s a eyesore to the community. Do you not have local ordinances requiring property owners to maintain them? Here's language in a local cities code: All buildings, both existing and new, and all parts thereof, shall be maintained in a safe and sanitary condition. All devices or safeguards which are required by this Building Code in a building when erected, altered or repaired, shall be maintained in good working order. The owner or the owner's designated agent shall be responsible for the maintenance of the owner's building. Not maintaining it would result in fines, which the property owner could pay, but the city could either keep increasing the fines to the point where its cheaper for the property owner to sell it. permalink fedilink source parent [–] Zoboomafoo@lemmy.world 12 points 2 years ago (1 child) Land value tax would fix this permalink fedilink source parent hideshow 2 child comments replies: [–] captainrob@mastodon.social 1 point 2 years ago (1 child) @Zoboomafoo @J12 reforms don't work. Change the system and change the rules. #eattherich permalink fedilink source parent hideshow 2 child comments replies: [–] Zoboomafoo@lemmy.world 1 point 2 years ago* (2 children) No thank you, I don't subscribe to revolutionary ideologies that want to tear down the system then figure out what to build on the ashes permalink fedilink source parent hideshow 4 child comments replies: [–] jlou@mastodon.social 2 points 2 years ago* (last edited 2 years ago) (1 child) Not all anti-capitalist ideologies are like that. Some of them have a clear vision of what to build: workplace democracy, social ownership of the means of production and common ownership of land and natural resources permalink fedilink source parent hideshow 2 child comments replies: [–] Zoboomafoo@lemmy.world 1 point 2 years ago* (last edited 2 years ago) Those are all great goals, I just think that the idea that everything needs to be torn down before it can be rebuilt is self defeating. permalink fedilink source parent [–] captainrob@mastodon.social 1 point 2 years ago @Zoboomafoo Then you're doomed to subsist in a system that will chew you up and spit you out without a care in the world. “Never be deceived that the rich will allow you to vote away their wealth.” #eattherich permalink fedilink source parent
[–] Hildegarde@lemmy.world 63 points 2 years ago (1 child) 50% vacancy tax. Any property that is vacant for more than 50% of the year would require the owner to pay 50% of the assessed value, unless they can prove there is zero demand for the property at any price. Would solve the problem very quickly. It's a fair, equitable, market driven solution to the problem of real estate vacancies. But governments are much more concerned with maintaining the illusion of value, than effective land use. permalink fedilink source parent hideshow 2 child comments replies: [–] Franzia@lemmy.blahaj.zone 7 points 2 years ago (3 children) We have something better called eminent domain. permalink fedilink source parent hideshow 6 child comments replies: [–] restingboredface@sh.itjust.works 9 points 2 years ago (1 child) That would set a dangerous precedent though. permalink fedilink source parent hideshow 2 child comments replies: [–] Franzia@lemmy.blahaj.zone 2 points 2 years ago (1 child) Yeah I'm just kidding that would be a chaotic nightmare. permalink fedilink source parent hideshow 2 child comments replies: [–] w3dd1e@lemm.ee 2 points 2 years ago (1 child) I work in commercial loans for a living. I can’t speak to other properties that aren’t securitized, but they can’t exactly just take your property without approval. there are exceptions to the rule but it would still require a lengthy and pricey legal process. permalink fedilink source parent hideshow 2 child comments replies: [–] Franzia@lemmy.blahaj.zone 2 points 2 years ago I'm glad to hear it tbh permalink fedilink source parent [–] Hildegarde@lemmy.world 2 points 2 years ago Eminent domain requires the government to compensate the land owner with the "fair market value" for taking their land. As the "fair market value" is so overinflated that no one can afford to rent the space, taking vacant properties through eminent domain is not a solution. permalink fedilink source parent [–] kemsat@lemmy.world 2 points 2 years ago 👆 permalink fedilink source parent
[–] Franzia@lemmy.blahaj.zone 7 points 2 years ago (3 children) We have something better called eminent domain. permalink fedilink source parent hideshow 6 child comments replies: [–] restingboredface@sh.itjust.works 9 points 2 years ago (1 child) That would set a dangerous precedent though. permalink fedilink source parent hideshow 2 child comments replies: [–] Franzia@lemmy.blahaj.zone 2 points 2 years ago (1 child) Yeah I'm just kidding that would be a chaotic nightmare. permalink fedilink source parent hideshow 2 child comments replies: [–] w3dd1e@lemm.ee 2 points 2 years ago (1 child) I work in commercial loans for a living. I can’t speak to other properties that aren’t securitized, but they can’t exactly just take your property without approval. there are exceptions to the rule but it would still require a lengthy and pricey legal process. permalink fedilink source parent hideshow 2 child comments replies: [–] Franzia@lemmy.blahaj.zone 2 points 2 years ago I'm glad to hear it tbh permalink fedilink source parent [–] Hildegarde@lemmy.world 2 points 2 years ago Eminent domain requires the government to compensate the land owner with the "fair market value" for taking their land. As the "fair market value" is so overinflated that no one can afford to rent the space, taking vacant properties through eminent domain is not a solution. permalink fedilink source parent [–] kemsat@lemmy.world 2 points 2 years ago 👆 permalink fedilink source parent
[–] restingboredface@sh.itjust.works 9 points 2 years ago (1 child) That would set a dangerous precedent though. permalink fedilink source parent hideshow 2 child comments replies: [–] Franzia@lemmy.blahaj.zone 2 points 2 years ago (1 child) Yeah I'm just kidding that would be a chaotic nightmare. permalink fedilink source parent hideshow 2 child comments replies: [–] w3dd1e@lemm.ee 2 points 2 years ago (1 child) I work in commercial loans for a living. I can’t speak to other properties that aren’t securitized, but they can’t exactly just take your property without approval. there are exceptions to the rule but it would still require a lengthy and pricey legal process. permalink fedilink source parent hideshow 2 child comments replies: [–] Franzia@lemmy.blahaj.zone 2 points 2 years ago I'm glad to hear it tbh permalink fedilink source parent
[–] Franzia@lemmy.blahaj.zone 2 points 2 years ago (1 child) Yeah I'm just kidding that would be a chaotic nightmare. permalink fedilink source parent hideshow 2 child comments replies: [–] w3dd1e@lemm.ee 2 points 2 years ago (1 child) I work in commercial loans for a living. I can’t speak to other properties that aren’t securitized, but they can’t exactly just take your property without approval. there are exceptions to the rule but it would still require a lengthy and pricey legal process. permalink fedilink source parent hideshow 2 child comments replies: [–] Franzia@lemmy.blahaj.zone 2 points 2 years ago I'm glad to hear it tbh permalink fedilink source parent
[–] w3dd1e@lemm.ee 2 points 2 years ago (1 child) I work in commercial loans for a living. I can’t speak to other properties that aren’t securitized, but they can’t exactly just take your property without approval. there are exceptions to the rule but it would still require a lengthy and pricey legal process. permalink fedilink source parent hideshow 2 child comments replies: [–] Franzia@lemmy.blahaj.zone 2 points 2 years ago I'm glad to hear it tbh permalink fedilink source parent
[–] Franzia@lemmy.blahaj.zone 2 points 2 years ago I'm glad to hear it tbh permalink fedilink source parent
[–] Hildegarde@lemmy.world 2 points 2 years ago Eminent domain requires the government to compensate the land owner with the "fair market value" for taking their land. As the "fair market value" is so overinflated that no one can afford to rent the space, taking vacant properties through eminent domain is not a solution. permalink fedilink source parent
[–] partial_accumen@lemmy.world 14 points 2 years ago There’s an old fast food restaurant near my neighborhood, boarded up, trash everyone, it’s a eyesore to the community. Do you not have local ordinances requiring property owners to maintain them? Here's language in a local cities code: All buildings, both existing and new, and all parts thereof, shall be maintained in a safe and sanitary condition. All devices or safeguards which are required by this Building Code in a building when erected, altered or repaired, shall be maintained in good working order. The owner or the owner's designated agent shall be responsible for the maintenance of the owner's building. Not maintaining it would result in fines, which the property owner could pay, but the city could either keep increasing the fines to the point where its cheaper for the property owner to sell it. permalink fedilink source parent
[–] Zoboomafoo@lemmy.world 12 points 2 years ago (1 child) Land value tax would fix this permalink fedilink source parent hideshow 2 child comments replies: [–] captainrob@mastodon.social 1 point 2 years ago (1 child) @Zoboomafoo @J12 reforms don't work. Change the system and change the rules. #eattherich permalink fedilink source parent hideshow 2 child comments replies: [–] Zoboomafoo@lemmy.world 1 point 2 years ago* (2 children) No thank you, I don't subscribe to revolutionary ideologies that want to tear down the system then figure out what to build on the ashes permalink fedilink source parent hideshow 4 child comments replies: [–] jlou@mastodon.social 2 points 2 years ago* (last edited 2 years ago) (1 child) Not all anti-capitalist ideologies are like that. Some of them have a clear vision of what to build: workplace democracy, social ownership of the means of production and common ownership of land and natural resources permalink fedilink source parent hideshow 2 child comments replies: [–] Zoboomafoo@lemmy.world 1 point 2 years ago* (last edited 2 years ago) Those are all great goals, I just think that the idea that everything needs to be torn down before it can be rebuilt is self defeating. permalink fedilink source parent [–] captainrob@mastodon.social 1 point 2 years ago @Zoboomafoo Then you're doomed to subsist in a system that will chew you up and spit you out without a care in the world. “Never be deceived that the rich will allow you to vote away their wealth.” #eattherich permalink fedilink source parent
[–] captainrob@mastodon.social 1 point 2 years ago (1 child) @Zoboomafoo @J12 reforms don't work. Change the system and change the rules. #eattherich permalink fedilink source parent hideshow 2 child comments replies: [–] Zoboomafoo@lemmy.world 1 point 2 years ago* (2 children) No thank you, I don't subscribe to revolutionary ideologies that want to tear down the system then figure out what to build on the ashes permalink fedilink source parent hideshow 4 child comments replies: [–] jlou@mastodon.social 2 points 2 years ago* (last edited 2 years ago) (1 child) Not all anti-capitalist ideologies are like that. Some of them have a clear vision of what to build: workplace democracy, social ownership of the means of production and common ownership of land and natural resources permalink fedilink source parent hideshow 2 child comments replies: [–] Zoboomafoo@lemmy.world 1 point 2 years ago* (last edited 2 years ago) Those are all great goals, I just think that the idea that everything needs to be torn down before it can be rebuilt is self defeating. permalink fedilink source parent [–] captainrob@mastodon.social 1 point 2 years ago @Zoboomafoo Then you're doomed to subsist in a system that will chew you up and spit you out without a care in the world. “Never be deceived that the rich will allow you to vote away their wealth.” #eattherich permalink fedilink source parent
[–] Zoboomafoo@lemmy.world 1 point 2 years ago* (2 children) No thank you, I don't subscribe to revolutionary ideologies that want to tear down the system then figure out what to build on the ashes permalink fedilink source parent hideshow 4 child comments replies: [–] jlou@mastodon.social 2 points 2 years ago* (last edited 2 years ago) (1 child) Not all anti-capitalist ideologies are like that. Some of them have a clear vision of what to build: workplace democracy, social ownership of the means of production and common ownership of land and natural resources permalink fedilink source parent hideshow 2 child comments replies: [–] Zoboomafoo@lemmy.world 1 point 2 years ago* (last edited 2 years ago) Those are all great goals, I just think that the idea that everything needs to be torn down before it can be rebuilt is self defeating. permalink fedilink source parent [–] captainrob@mastodon.social 1 point 2 years ago @Zoboomafoo Then you're doomed to subsist in a system that will chew you up and spit you out without a care in the world. “Never be deceived that the rich will allow you to vote away their wealth.” #eattherich permalink fedilink source parent
[–] jlou@mastodon.social 2 points 2 years ago* (last edited 2 years ago) (1 child) Not all anti-capitalist ideologies are like that. Some of them have a clear vision of what to build: workplace democracy, social ownership of the means of production and common ownership of land and natural resources permalink fedilink source parent hideshow 2 child comments replies: [–] Zoboomafoo@lemmy.world 1 point 2 years ago* (last edited 2 years ago) Those are all great goals, I just think that the idea that everything needs to be torn down before it can be rebuilt is self defeating. permalink fedilink source parent
[–] Zoboomafoo@lemmy.world 1 point 2 years ago* (last edited 2 years ago) Those are all great goals, I just think that the idea that everything needs to be torn down before it can be rebuilt is self defeating. permalink fedilink source parent
[–] captainrob@mastodon.social 1 point 2 years ago @Zoboomafoo Then you're doomed to subsist in a system that will chew you up and spit you out without a care in the world. “Never be deceived that the rich will allow you to vote away their wealth.” #eattherich permalink fedilink source parent