Fha and USDA loans do just fine. Trust me, I know how they are underwritten.
Historic landmarking: measurable, devastating cost with zero tangible benefit. Ranks up there with zoning + government-backed student loans and mortgages as the worst well-intentioned ideas of all time.https://twitter.com/robbysoave/status/1162459914226294786 …
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It’s not about the loans defaulting; it’s about creating an economy where the housing market has to appreciate uninterrupted in order to prevent catastrophe.
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So obviously a "taking"... and with a clear remedy... just let the city buy stuff it wants to preserve
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Yup. Playing out two blocks from my house. Local mega church tried to buy this relic but deferred maintenance ($20mm) was too much to overcome. No rational use case for this dilapidated “treasure”pic.twitter.com/yzTV9ZHJ66
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Also, let’s be real, that building was ugly as hell
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A minor quibble: Zoning does not have “well-intentioned” origins:https://fee.org/articles/the-racist-history-of-zoning-laws/ …
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Someone should sit these people down and teach them about Ronald Coase.
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In the long run, not tearing down Grand Central was more profitable.
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