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Caracas Mayor’s Office to Expropriate Buildings for Renters

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  • stuartmunckton
    Caracas Mayor s Office to Expropriate Buildings for Renters hursday, Mar 30, 2006 By: Venezuelanalysis.com http://www.venezuelanalysis.com/news.php?newsno=1930
    Message 1 of 3 , Apr 1, 2006
      Caracas Mayor's Office to Expropriate Buildings for Renters

      hursday, Mar 30, 2006
      By: Venezuelanalysis.com

      http://www.venezuelanalysis.com/news.php?newsno=1930

      ...

      "All good rented buildings which were constructed between 10 and 30
      years ago, or longer and of which the sum of the rental contributions
      has been, when totaled up, more than 5 times the value of the
      building, become expropriated by the Greater Caracas city government,"
      Barreto told Union Radio.

      The Caracas mayor argued that five times the price of a building is a
      reasonable profit for an investor to receive.

      ...
    • grok@resist.ca
      ... Hash: SHA1 ... Jesus H. Krist but that s a downright REVOLUTIONARY act. I d almost VOTE for the mayor that did that. Almost. ; I can hear the oafish roars
      Message 2 of 3 , Apr 1, 2006
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        Hash: SHA1


        > Caracas Mayor's Office to Expropriate Buildings for Renters
        >
        > hursday, Mar 30, 2006
        > By: Venezuelanalysis.com
        >
        > http://www.venezuelanalysis.com/news.php?newsno=1930
        >
        > ...
        >
        > "All good rented buildings which were constructed between
        > 10 and 30 years ago, or longer and of which the sum of the
        > rental contributions has been, when totaled up, more than
        > 5 times the value of the building, become expropriated by
        > the Greater Caracas city government," Barreto told Union
        > Radio.
        >
        > The Caracas mayor argued that five times the price of a
        > building is a reasonable profit for an investor to
        > receive.


        Jesus H. Krist but that's a downright REVOLUTIONARY act.
        I'd almost VOTE for the mayor that did that. Almost.
        ;>

        I can hear the oafish roars of the petit-bourgeois
        landlords' counter-revolution now. And if I were a tenant of
        any of these buildings: I'd be on the lookout in the
        foreseeable future for any suspicious characters -- or the
        landlord or his family members -- in the possession of
        petrol cans or molotov cocktails or the like...
        Seriously.
        \:/

        - -- grok.



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      • Gavin R. Putland
        NO NEED TO EXPROPRIATE BUILDINGS ... Yes, seriously -- because torching the buildings in line for expropriation would worsen the shortage of accommodation and
        Message 3 of 3 , Apr 2, 2006
          NO NEED TO EXPROPRIATE BUILDINGS

          Grok wrote:

          > Subject: Re: Caracas Mayor's Office to Expropriate
          > Buildings for Renters
          > ...

          > > Thursday, Mar 30, 2006
          > > By: Venezuelanalysis.com
          > >
          > > http://www.venezuelanalysis.com/news.php?newsno=1930
          > >
          > > ...
          > > "All good rented buildings which were constructed
          > > between 10 and 30 years ago, or longer and of which the
          > > sum of the rental contributions has been, when totaled
          > > up, more than 5 times the value of the building, become
          > > expropriated by the Greater Caracas city government,"
          > > Barreto told Union Radio.
          > >
          > > The Caracas mayor argued that five times the price of a
          > > building is a reasonable profit for an investor to
          > > receive.
          >
          > Jesus H. Krist but that's a downright REVOLUTIONARY act.
          > I'd almost VOTE for the mayor that did that. Almost.
          > ;>
          >
          > I can hear the oafish roars of the petit-bourgeois
          > landlords' counter-revolution now. And if I were a tenant
          > of any of these buildings: I'd be on the lookout in the
          > foreseeable future for any suspicious characters -- or
          > the landlord or his family members -- in the possession
          > of petrol cans or molotov cocktails or the like...
          > Seriously.

          Yes, seriously -- because torching the buildings in line
          for expropriation would worsen the shortage of
          accommodation and thereby increase the rents of buildings
          that are *not* yet in line for expropriation. That's one
          reason why expropriating the buildings is a BAD IDEA.

          Here's another reason. If you want to increase the supply
          of accommodation and force down rents for the benefit of
          the poor and homeless, all you have to do is impose a
          holding tax of so many percent per year on the values of
          vacant lots and of land under unoccupied buildings. Then
          owners of vacant buildings will have to offer them to
          tenants in order to generate rent to cover the tax. And
          owners of vacant lots will have to build on them in order
          to attract tenants and generate rent -- or sell them to
          someone who will build on them.

          Having done that, you might as well extend the tax to other
          land in lieu of at least some of the other taxes that the
          owners pay (e.g. income tax on the rent). That keeps the
          system simple.

          Taxing land encourages the building of accommodation.
          Expropriating buildings has the *opposite* effect because
          landowners think: "Why bother building anything if the
          Government can expropriate it?!" And of course
          expropriation gives far more ammunition to "petit-bourgeois
          landlord" critics than taxation does.

          ---

          Gavin R. Putland
          http://grputland.blogspot.com
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