HomeMy WebLinkAbout09-25-15 Van Hault Affordable Housing Public CommentFriends,
I'd really like to know what your response is to the idea that speculators are a big reason why land costs rise so high so fast in Bozeman. Of course, the
reasons previously identifled are all big, but my informant thinks speculation is
the most basic reason of all, & that it makes the problem of affordable housing more knotty than anyone has addressed.
Speculators cannot only be big but can be numerous & varied & not only some big
developers but also some some realtors -- I hope not many, -- there are some clues of realtors who make more by themselves offering to the older residents a
price that sounds wonderful to the gullible (which many older folks are), & then
that realtor keeps it as a more lucrative rental or after a while sells it at its real market value.-- much more than what that realtor obtained it for by his thwarting that theoretically perfect theory of a efficacious free market.
No theory that involves human beings will ever be perfect in reality.
So you can't count on that free market without recognizing its limitations &
finding ways to mitigate those imperfections. Actually, your job is incredibly tough in such issues. Good luck.
Regards, Mary Van Hault