Recent comments in /f/providence

Thick-Error-6330 t1_it9aow2 wrote

Reply to Nail rec? by SadQueerBruja

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MyStackRunnethOver t1_it8nuzp wrote

I don't disagree that reforming property ownership would make it so that investors (of various sizes) can't take advantage of housing scarcity to earn obscene rents.

However, even doing that still doesn't solve the problem of housing supply-demand mismatch. When housing construction lags population growth for decades there is going to be scarcity no matter what - and that lag in construction is thanks to decades of local, state, and federal support for discriminatory zoning and inefficient property tax policies, fueled by racism and classism.

The landlords are just riding the wave which our governments and zoning boards have prepared for them by attempting to freeze our cities in 1965.

With a sub-5% vacancy rate, if prices fall by half overnight, everyone who currently can't afford a home just won't be able to find a home. The good news is that fixing the supply side lowers prices, takes away those massive rents, and along with them the incentive for rental conversions and speculative purchases.

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lovecraft_401 t1_it8hkcw wrote

Letting a building go unused and virtually neglected for over two years then claiming they had no choice but to tear it down is kind of bullshit.

They closed the business in 2019 saying they needed to do renovations, did nothing for two years, then in 2021 tore it down. What could’ve been done during those two years to prevent the tear down? Did they intentionally wait until the building was too far gone because tearing it down was always in their plan?

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FunLife64 t1_it8eh12 wrote

I don’t think “supposedly” is necessary. People get all bent out of shape about historic buildings - but nobody wants to OR offers to pay for it. That block has cement buildings, apt buildings with plastic siding, etc - this idea its some picturesque block of a historic street is stilly.

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