Quote:
Originally Posted by SuburbanNation
Off topic, but funny you should mention that. I'm still in my twenties but I've seen the once beautiful panhandle of Florida change from laid back and quasi rural to disgustingly (suburban, exurban, whatever) since I was a grade school-er. For the record I go camping at Grayton Beach State Park. What a wasted opportunity to preserve that final Florida coast.
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If you think Florida is bad, just go to Italy. Their coast is severely overdeveloped - but it happened decades earlier.
I thought we were supposed to learn from our past!
Oh that's right... greed gets in the way.
It's omnipresent.
If those developers wouldn't be able to make money off of renovating the Washington St. Loft District (in STL), the area would still be abandoned. Do you really believe they do it, because they are preservationists at heart? Or is it because of market demand and tax abatements, which enable some of the projects to be profitable. (I say the latter). Not only that, even if the renovation projects are a bust, money was cheap and credit was easy the past few years, one could take on leverage, pay oneself a handsome salary, and pay out dividends (to oneself) - and THEN risk the rest on a loft renovation project. If you lost, your personal finances would be protected in an LLC.