You write that there is an argument to be made for discouraging sitting on land as a real estate investment, without using it to benefit the neighborhood that it sits in.
Let's say that you are right, that there is such an argument to be made. In other words, the neighborhood in which the property resides would benefit from some improvements to the property in question.
In this case, why should the affected parties not try to work together to accomplish it?
For example, if I own a vacant lot in the middle of a neighborhood, and my neighbors want to use the land for a park, I'd be happy to discuss selling some or all of it to a neighborhood association.
On the other hand, if the neighbors are going to get together and petition the local city council to confiscate my property, say through eminent domain, that seems like an unreasonable intrusion on property rights.
I understand that people want things. However, I think we'd all be better off it we sought to work things out through voluntary cooperation and free trade – in an environment where individual rights are respected – rather than empowering politicians to pass laws that grant special favors to certain groups.
You write that there is an argument to be made for discouraging sitting on land as a real estate investment, without using it to benefit the neighborhood that it sits in.
Let's say that you are right, that there is such an argument to be made. In other words, the neighborhood in which the property resides would benefit from some improvements to the property in question.
In this case, why should the affected parties not try to work together to accomplish it?
For example, if I own a vacant lot in the middle of a neighborhood, and my neighbors want to use the land for a park, I'd be happy to discuss selling some or all of it to a neighborhood association.
On the other hand, if the neighbors are going to get together and petition the local city council to confiscate my property, say through eminent domain, that seems like an unreasonable intrusion on property rights.
I understand that people want things. However, I think we'd all be better off it we sought to work things out through voluntary cooperation and free trade – in an environment where individual rights are respected – rather than empowering politicians to pass laws that grant special favors to certain groups.