Sunday, May 8, 2011

I smell opportunity

In San Francisco, one of the toughest places in the country to find a place to live, more than 31,000 housing units — one of every 12 — now sit vacant:

“Vacancy rates are going up because owners have decided to take their units off the market,” said Ross Mirkarimi, a progressive member of the Board of Supervisors. He attributes that response to “peaking frustrations in dealing with the range of laws that protect tenants in San Francisco that make it difficult for small property owners to thrive.”

From chapter two: The one lesson of business is to identify assets in lower-valued uses, and figure out a way to profitably move them to higher-valued ones. It cannot be that hard to figure out a way to consummate these implied wealth creating transactions.

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