Comment 39137

By canbyte (registered) | Posted March 26, 2010 at 00:18:09

MoreRoads... You certainly got an interesting idea rolling here but does it really have legs? BH has good criticism but let's set that aside for the moment. First, you/ someone has to do more work on the realities involved (money supply, interest rates, debt, experience (ie Santa Ana per post above), etc. You have to get beyond the rhetoric and beyond thinking of the sellers to thinking of the buyers. Why should they raise their offers? Which is why i stress business conditions more than fixes. Also, you imply a reduction of square feet on the market - does this involve demolition too? Isn't it just derelict owned by city? Won't the city have to spend a lot of dough to keep MattJelly and his clipboard happy?

Re your example of the two properties <$200,000 vs $2mil. I heard that a coffee shop on Queen Street a km west of the Beaches (Coxwell) is paying about 6 grand a month in rent. How would your Wilson property compare?

Here's an extension to your idea based on the fact that WE are the city! We can change places with the city. Why don't we just pool our resources and buy these places ourselves? One grand from a few thousands of residents can buy quite a bit. So the question becomes, would you put your grand on the table along with mine? Hmm. Wannabe a developer? Interesting, no?

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