Reply to What's the deal with Developers?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Explain to me why developers are bad. I see this take so much whether it's in DC with the Mayor, Montgomery County or any other place. What is it about the developers that makes them awful people?[/quote]

short term vision (profit), unintended consequences for those of us here for the long haul. They move the shells around on the table and get you to place your momey--in the long run city and residents are left with nothing, but they do fine. Hope this helps![/quote]

Residents are left with HOUSING UNITS. [/quote]

Apparently, progressives believe housing units are only important if they're the "right kind" of housing units. These units should be no more than 60% of market rate... but it's best if they're far away from our backyards.[/quote]

That’s old progressive thinking. New progressive thinking is that housing units should all be rentals and developers should make at least 15 percent ROI. We should also avoid building any new infrastructure like roads (even though it’s fine to let developers build as much parking as they want so that everything pencils out) or like schools (because renters apparently don’t have kids). Never mind that the lack of additional housing available for purchase makes it really hard for people to build wealth, so the benefits of development all accrue to existing homeowners and developers. [/quote]
15% is too low of a margin for developers. Try more like 25-30% margins. [/quote]

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