Posted on 02/16/2024 4:57:39 AM PST by MtnClimber
What I don't understand is the economic argument for all of these apartments. Most of the employment in town is barely above minimum wage. The rents are out of reach for most people with local employment. There is adequate housing around Idaho State University for the transient populations of students present from September to June each year. I see a similar pattern up in Idaho Falls. New apartments everywhere. There simply isn't adequate employment to support all of this capacity.
Perhaps to house illegals at government expense (Section 8). There are not enough employers with satisfactory pay scales to support the kind of rent demanded with all the new apartments.
These properties are meant to be investment vehicles, like China's 'Ghost Cities', and not actually occupied by anyone, even illegal alien invaders.
Properties left vacant become targets of vandalism. They represent a liability for taxes, loan interest, insurance and maintenance while generating no revenue. Are these crap investments intended to generate an offsetting loss for billionaires with profitable investments?
That’s exactly where I’ve seen it. The lower floor of the apartments on Manassas Drive have been empty since they were built, was that in 2008? I think it was.
Liability issues...No business wants to be responsible if in running their business, fires or other catastrophes cause death to the tenants and families above their businesses. Local taxes are high and the property owners are sort of pie in the sky in terms of what they think they should be getting from businesses leasing these spaces. So these places are empty and the local strip malls and small graasy plots(think taco bell out in front of a strip mall in its own unique spot) are still sought out. Huge risk for businesses that have tenants in apartments above them.
Yes, they usually make those buildings 4 stories or less so they can use wood frame construction because it’s cheaper.
I worked in a 6-story office building and the floors were concrete. Obviously a bit more fireproof than a wood-frame building.
Here in my state if everyday citizens run for office they get attacked by both parties.
See Joe Blystone.
Ran for governor and the Republicans put a mole in his campaign to ruin him.
Ballet box is gone.
Have your cartridge box ready.
And have a nice week!
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