Quote:
Originally Posted by Woodsy
Joey
By an adverse effect... I was referring to the HUGE increase in property values that will occur primarily on Tower Hill & Doe Ave & Methodist Circle.... essentially taxing people out of their homes.
John
Normally you would be correct in that more housing will reduce the demand and thus values stabilize. Unfortunately, there are not affordable primary residences that would reduce demand (that Laconia desperately needs) but most will be $750K 2nd home/airbnb units that out of state investors with no care but making money adore!
It is short sighted view by the Mayor & Laconia City Council... I wonder if Hosmer gets to buy 3 of these at cost?
Woodsy
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It keeps them from bidding up those ''affordable primary residences''. Hosmer purchased the 3 because Rusty wanted out for some of his capital as he is intent on financing another hotel - he caught lightening in a bottle but believes it to be more than that.