[vageli]

> I didn't say uncontrolled growth was better, I said a vacant building tax would slow or restrict new development.

> Of course there is waste, this is part of the cycle of boom and bust. The people that mistime the market will overbuild and lose their investment.

> When the frenzy passes, house may stay empty, but the market will adjust. Fewer new houses will be build and people who stayed out of the market will have a chance to buy at cheaper prices.

Why would there be new development in places with high vacancy? Wouldn't the community want new development to be hindered if most of downtown is empty already?