Sounds like what is going to happen to me is some "opportunity zones" are going to increase in value, and its going to lead to a runaway feedback effect where all this opportunity zone investment is going to be plowed into a few rapidly price increasing zones for maximum return and nowhere else.
End result is going to be an entire neighborhood of 3 million dollar condos nobody lives in (but prices have skyrocketed due to the huge influx of money), a huge tax free payoff for millionaires, and next to zero real societal value created.
The benefit of investing in an opportunity zone is not that great. It’s an incentive, but a rather modest one, for a specific group of people with ‘captive gains,’ and these investments will tend to be rather risky by nature of being in OZs. I have trouble fathoming a runaway investment situation (?). If, in 10 years, OZ policy has dramatically changed the state of a substantial portion of low income census tracts... is that a bad thing?
End result is going to be an entire neighborhood of 3 million dollar condos nobody lives in (but prices have skyrocketed due to the huge influx of money), a huge tax free payoff for millionaires, and next to zero real societal value created.