Here's another case where we can have either disaster we want, but not
contradictory disasters at the same time.
A softening of rents might do all you say to small landlords. But it
will benefit small renters in the short run; and the short run is what
matters to most University Citizens today. Eighty percent of neighbors
on my block won't be here four years from now because most are renters.
No matter how diabolical you believe a university's powers are, it can't
simultaneously force housing prices up, to further its Macchiavellian
scheme of gentrification, and force housing prices down, to further its
clumsy bungling of gentrification.
-- Tony West
Craig wrote:
#3. In the strictest sense, the Radian should cause a boomlet at
least, if its ... the Radian will merely suck hundreds of pricey
tenants out of the overall Spruce Hill rental market, easing
upward pressure on rents for those of us who don't want to spend
that kind of money on a bed.
A softening of the rents could create a real challenge for the
stretched small investor and create new opportunities for Penn proxies
to buy out distressed owners, especially if such owners were to be hit
simultaneously with increased real estate taxes and a NID tax. But
that's the free market, when local gov gives all kinds of breaks to
the 800 lb gorilla so it can forage among and feast upon the lesser.
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