Detroit LVT: Will the price of land go down? (2028)
6
34
230
2029
58%
chance

Detroit is planning on an LVT project. It still has to pass a few legislative hurdles, but Mayor Duggan is pushing hard. You can read all about it here:
https://www.economist.com/united-states/2023/10/05/detroit-wants-to-be-the-first-big-american-city-to-tax-land-value

This market resolves N/A if the LVT project is not implemented by the expiration date.


This market is one of a series of markets based on the very confident predictions found in the Marginal Revolution comments section on the subject (mostly, but not always, about how it will fail). I'm turning each of these into a market. (Group link for all these markets)


Commenter mort main:

It's one way to drive the price of land down and maybe make it more attractive to developers?

Two years after the implementation of the LVT project, If the median selling price of median sized, modally zoned, land (both residential and commercial) is lower than what it was before the LVT project, this market resolves YES. Otherwise it resolves NO. This excludes sales from the Detroit Land Bank.

Get Ṁ600 play money