Property Taxes: It Looks Like a Bill. It’s Really an Opening Offer.
Your property tax assessment is like a car’s sticker price, it’s meant to be negotiated. Think about the last time you went shopping for a car. If you visited a dealership, you probably were prepared to learn about sticker prices (the manufacturer’s suggested retail price) and offer a counter price. This is the right thing […]
Affordable Housing: The Math Isn’t Mathing
A few years ago, I was speaking with someone trying to raise capital for a new apartment complex in San Antonio. He said to me in frustration, “I’ve never seen anything like this. Not one investor.” He had the land, the pro forma, the vision—all of it buttoned up. But no investor would bite. I […]
Increase Supply, or Kiss Affordability Goodbye
“I’m an economist. So, I don’t know any way to repeal the law of supply and demand. If you want to decrease the price, you have to dramatically increase the supply.” This quote was Harvard economist Ed Glaeser’s opening line at the 2016 Cities for Tomorrow Conference. An idea so simple and so profound that […]