A Billionaire Wants to Reinvent Appalachia with a Utopian City

> At the core of this vision lies a proposed economic framework Lore calls equitism. In this model, land would be owned collectively by the city rather than privately hoarded. Individuals and businesses could own buildings and enterprises, while land value increases would cycle back into public services such as schools, transit, and social programs. Supporters see equitism as a potential antidote to extreme wealth inequality and runaway real estate speculation that plague many modern cities.

No major city has successfully completely banned private land ownership as an enacted law. Most real-world initiatives are partial restrictions like limiting ownership by foreigners, restricting certain uses such as short-term rentals, or experimenting with collective/commons land stewardship.

Will be interesting to see this experiment play out.