this post was submitted on 06 Sep 2023
1204 points (86.6% liked)
Fuck Cars
9682 readers
1390 users here now
A place to discuss problems of car centric infrastructure or how it hurts us all. Let's explore the bad world of Cars!
Rules
1. Be Civil
You may not agree on ideas, but please do not be needlessly rude or insulting to other people in this community.
2. No hate speech
Don't discriminate or disparage people on the basis of sex, gender, race, ethnicity, nationality, religion, or sexuality.
3. Don't harass people
Don't follow people you disagree with into multiple threads or into PMs to insult, disparage, or otherwise attack them. And certainly don't doxx any non-public figures.
4. Stay on topic
This community is about cars, their externalities in society, car-dependency, and solutions to these.
5. No reposts
Do not repost content that has already been posted in this community.
Moderator discretion will be used to judge reports with regard to the above rules.
Posting Guidelines
In the absence of a flair system on lemmy yet, let’s try to make it easier to scan through posts by type in here by using tags:
- [meta] for discussions/suggestions about this community itself
- [article] for news articles
- [blog] for any blog-style content
- [video] for video resources
- [academic] for academic studies and sources
- [discussion] for text post questions, rants, and/or discussions
- [meme] for memes
- [image] for any non-meme images
- [misc] for anything that doesn’t fall cleanly into any of the other categories
Recommended communities:
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Except when financial incentives line up so that it’s more profitable to let an apartment go vacant than it is to decrease rent to an affordable level.
Just go to Seattle - you’ll see apartment buildings at less than 50% capacity with rent starting at $2500/mo, immediately adjacent to homeless camps.
The financial incentives don't line up because there isn't enough (affordable) housing supply. Build more and they will be forced to drop their rates or sit vacant forever losing money. Some areas also have ass-backwards tax schemes that allow you to write off lost income from a "vacancy" as a loss. I'm not sure if Seattle does this but that is another major driver of those obnoxiously high rent vacant apartments in some areas.