That private industry knows more and makes better decisions than government is almost always true.
If government could make wise decisions, the Soviet Union would have buried us like Kruschev said it would and Communist China would never have allowed free enterprise to develop in their country as a path to prosperity. NK would be richer than SK. Etc etc etc.
The Soviet Union was very successful for decades. For a while, it led the US in science and in space. Eventually, it became over extended......got caught up in a 9 year war in Afghanistan: its governing expenses grew til they were greater than its revenues, there was extreme corruption; its infrastructure was antiquated and falling apart.....sound familiar...it should.
Gov'ts can change over time and become less successful.
Over and over in real estate, I was lectured by the 'pros' not to do something. I would listen and when it didn't make sense, I would go ahead and do it. One of the things they would tell me was that mixed use projects ...
Were you guided by a government in making your real estate decisions?
No, but just like with the private sector, there are some gov'ts that are far more productive than others. In the LA area, there was Glendale, Santa Monica, West Hollywood, and Pasadena. All managed to turn around failing neighborhoods and increase revenues.
Seattle has been far more pro active than anything in S. CA. They been highly successful in converting crime ridden neighborhoods into good neighborhoods, increasing city revenues, encouraging higher density in areas best suited for higher density; promoting mixed use developments; increasing the busines conducted by the docks; creating a biotech research area; developing tree lined boulevards in order to encourage better development, etc. As a consequence, Seattle is one of the few built out cities that is experiencing population growth.
Three blocks from my house what was a former public housing project built circa WW II has been torn down and turned into a mixed income development with both rentals and for sale housing. Surprisingly, the development kept building all the way through the recession.
I am sure there are examples of good gov't in TX. I've heard good things about Austin for an example.
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