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by User23
541 days ago
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> for complex financing & revaluation reasons It’s really not. Landlord can’t cut the rent because commercial real estate values are based on cap rate. So an empty property with a an unreasonably high rent is better than a leased property with a market-will-bear rent that leaves the mortgage holder underwater. |
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If you're not embedded in finance, though? To the rest of us? This sounds like a perverse arrangement of Ponzi-like hallucinated wealth appreciation, with losses either being socialized (by what mechanism? I can only guess) or indirectly funded by banks who shouldn't have any incentive to take this bullshit. Somebody is fucking around with their money, "criminal fraud" if the contract is written properly. It shouldn't work.
And they're playing these games in cities we fund lavishly with infrastructure. Cities that are allowed to set their own property taxes as needed. Cities full of voters that are not investors.