It’s understandable that current residents demand that concession. However, minimum parking space rules subsidize and devalue parking spaces below their real value by essentially placing an artificial price cap on them.
People don’t want to pay for parking even though that land has inherent value, and American city planners for years have been overproducing unproductive land just to park vehicles, and it’s literally bankrupting them.
People don’t want to pay for parking even though that land has inherent value, and American city planners for years have been overproducing unproductive land just to park vehicles, and it’s literally bankrupting them.