Thursday, October 02, 2008

Hurricane to reduce impact fees???

Ranch style home in North Salinas, CaliforniaImage via WikipediaHurricane considers reducing impact fees

This article perfectly points what is wrong with our current system.

How many people before looking at a house consider the cost of the impact fees? I bet if you polled 99% of home buyers they would have no idea how much the impact fees were unless they were told by the real estate person.

But real estate developers see any fee as a blow to their "burn and go" system. They want to burn through as many houses, make the money and run. While I have no problem with them making money, it should not be at the cost to everyone else.

Impact fees rarely look at the long term cost of building especially the none-infrastructure cost such as additional police and fire and long term cost such as traffic.

In the long run the people in the older established neighborhoods end up subsidizing their new neighbors.

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