William Breathes's post about developer Mickey Zeppelin, one target of a threatened lawsuit related to proposed medical marijuana grow regulations being considered later today by Denver City Council, attracted some strong responses. None was stronger, though, than the one on view below.
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The City Councils constant tinkering in the economic development of the city interferes with traditional market forces at work in a healthy normalized economy.
In a healthy economy users of resources must bid for use of a scarce resource, in this case the land. If Zeppelin Development felt that the land was more valuable being used for development than Emmans and other building owners they would increase their bid to the point where it made fiscal sense for Emmans and other property owners in the area to sell their rights to the property.
Due to Montero's tinkering and interference normalized economics are not being allowed to function and Zeppelin is manipulating the market price of this land by abusing zoning to reduce the value of the land by preventing other users to bid what they consider a fair value for use of the land.
The end result of this is that Zeppelin Development gets their land at below market price instead of having to pay "what the market will bear", as occurs in a functioning economy. They are able to obtain the property at a depressed price due to the inability of others to utilize the space for their desired purpose.
Thanks City Council for ass F*CKING common sense economics, robbing building owners of their properties inherent worth and allowing developers to manipulate the city zoning laws to allow them to obtain property at below market pricing. Good Job, keep it up, maybe we can sell the City and County building to them for a discount if we change the zoning laws there. Lord knows I would love to have a condo in the converted City and County building.
For more memorable takes, visit our Comment of the Day archive.