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Banking on Land to Reclaim Blighted Cities

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Simon Hersom
Simon Hersom  
1/30/2013 1:42:39 PM
User Rank Urban Legend
Re: It sounds good... I think
Nicole, no developer wants to catch a falling knife.  If a credible land banking operation buys the land it stops the calamity of blight.  The developer may well wish to wait until the land is truly trashed and then buy really cheap

Mary Jander
Mary Jander  
1/30/2013 9:24:49 AM
User Rank Staff
Re: PS on California's tax situation
"Nevada, here we come." Seems pretty clear that California legislators need to look at the fact that the entertainment industry is a major contributor to the state economy.

PeterJ
PeterJ  
1/29/2013 10:26:40 PM
User Rank Urban Legend
Re: PS on California's tax situation
Thank you, Mary, for the link. Now I remember that it was Phil Mickelson that I had read about. One wonders about the effect on the entertainment industry and Silicon Valley. Nearby Nevada is a state with no personal inome tax.

PeterJ
PeterJ  
1/29/2013 10:23:59 PM
User Rank Urban Legend
Re: It sounds good... I think
James, I heard about some proposed measures by Gov. Brown related to personal income tax but was not aware this had been implemented yet. What is the public reaction to this?

PeterJ
PeterJ  
1/29/2013 10:21:59 PM
User Rank Urban Legend
Re: It sounds good... I think
I do think timing and responsiveness is imperative here, and this type of blight can easy breed a cascading type of fear that can take over neighborhoods.

Nicole Ferraro
Nicole Ferraro  
1/29/2013 1:28:50 PM
User Rank Staff
Re: It sounds good... I think
I think I'm being dense, but I guess I'm having trouble understanding why this is any better than the developers acquiring the land themselves. What's the benefit of the cities acting as middleman?

Mary Jander
Mary Jander  
1/29/2013 9:59:05 AM
User Rank Staff
Re: It sounds good... I think
Certainly, from what I've read, it seems to be a fairly quick downhill slope once blight sets in. One foreclosed property, then another, then property values deflate, then the properties become prey for gangs or squatters. The businesses leave. I didn't quite realize before just how predictable the syndrome of blight really is.

PeterJ
PeterJ  
1/28/2013 7:38:50 PM
User Rank Urban Legend
Re: It sounds good... I think
Mary, I see this process as a real "insurance" against this blight, resulting in protection of property and community. I know the major cities that have suffered high foreclosure or property abandonment have instead realized prolonged property devaluation, crime, and other cummunity ills. Yes, it is well worth the investment.

Mary Jander
Mary Jander  
1/28/2013 5:42:19 PM
User Rank Staff
PS on California's tax situation
I looked up the tax situation you refer to, James, and saw this. Thanks for the heads up!

Mary Jander
Mary Jander  
1/28/2013 5:40:57 PM
User Rank Staff
Re: It sounds good... I think
Wow, James. California's situation looks like a mess for everyone. If the cities there aren't helping the poor and they're alienating the rich, nobody wins.

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