Real Estate Investors See Riches in a Tax Break Meant to Help the Poor

Real Estate Investors See Riches in a Tax Break Meant to Help the Poor

Land deals in eligible tracts from Bronx to Oakland jump 62%.

https://www.bloomberg.com/news/features/2019-01-15/opportunity-zone-fever-spreads-as-debate-over-tax-break-deepens

In a former warehouse on a dimly lit street in the South Bronx, developers sipping Puerto Rican moonshine listened as a local official urged them to capture a new U.S. tax break by rebuilding the decaying neighborhood.

In Alabama, a young lawyer quit his job after seeing the same tax breakā€™s potential to help one of the nationā€™s poorest states. He now spends his days driving his Hyundai from town to town, slideshow at the ready, hoping to connect investors with communities.

And on a conference call with potential clients, a prominent hedge fund executive pitched investments in a boutique hotel in Oakland, which he described as San Franciscoā€™s Brooklyn. The project is eligible for the same tax break, designed to help the poor.

That title is idiotic. Nowhere does the article actually address the title or make that argument. Do they really think poor people would have the cash to buy land and develop it?

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"ā€œBoulderā€™s teachers canā€™t live in Boulder,ā€ he said. ā€œItā€™s not a healthy thing to have socioeconomic divide where lower-income people have to live outside of town to serve higher-income people in town.ā€

True in almost every area run exclusively by Democrats. So ā€œprogressive.ā€

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Boulder is the Berkeley of Colorado

Sounds bullish.

Boulder has very strict planning and they donā€™t allow much building. Similar to California. But why canā€™t people live right next to boulder? I assume builders can build many houses in the county land just outside of Boulder. There shouldnā€™t be a shortage of land in Colorado

Land shortages are created by restrictions on zoning

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Zoning and high home price is a way to control population and protect the earth :rofl:

It doesnā€™t keep people from reproducing. It just limits where they live.

I think it is liberals keeping people out of their towns. They are sneaky because they are PC. But restrictions are basically racist

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I think thereā€™s certain envy from those who want to call themselves conservative and millionaires at the same time. They are none of the above, just mumbling jumbling crap while hiring those in need, you know, those ā€œillegals or commiesā€, which by the way turns them into hypocrites.

Pretty weird republicans donā€™t want to listen to these real millionaires, why?

Now, a real patriot and millionaire? Oh wellā€¦they are commies, right? :laughing::laughing::laughing: