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July 05, 2006


Mark Alpert

You have it right! The City of Lake Forest is not only ignoring property rights, it is interfering with a far more efficient mechanism for addressing the problem: the market system. The reason apartments are being converted into condos is that they have substantially more market value as condos. The market for sale homes will cool; there is already a glut in the market, resulting in lower prices. The demand for apartments leads to higher prices, encouraging the production of apartments. What on earth makes these government hacks believe they can improve on the pricing system of the market? The more government involvement, the less efficient the pricing system. Compare the costs of medical care to the cost of computers. These bureaucrats are so intent on appearing that they are doing something to solve a problem, they apparently do not care whether they are helping, or making matters worse. If you really want to help, stay out of the way of the market!

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