Submitted by Towers_Oh_My27 t3_ygbav9 in Newark
twinkcommunist t1_iuaa0zo wrote
Reply to comment by surrealchemist in Another building bites the dust... gentrification is real out here. by Towers_Oh_My27
I'm fine with those other things if theres actually enough money behind any of them to actually get them built. Price caps usually have really bad second order effects. I don't think a vacancy tax would be useful because less than 6% of units in Newark are vacant which usually just means that landlords wait a month or two between tenants; things aren't sitting empty long term. (Especially in a city that has a lot of structures that aren't habitable but would count as vacant because they have walls and a roof). I'd rather just have a universal higher property tax that goes to a public housing developer that builds apartments to rent slightly above the cost of maintenance.
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