It also disheartens a community to see busted up buildings that are neglected. And I seriously doubt a little spray paint is going to deter an investor who sees a business opportunity.
and those ugly neglected buildings are worse than graffitti because someone with money owns those and needs to take responsibilty for them. with grafitti, it's normally bored kids doing it, and yes it's wrong and yes they should be punished, but it's like putting lipstick on a pig - lipstick or not - it's still a pig. Sort of a backwards analogy there, I guess.
If I have an old beat-up car parked in an otherwise aesthetically pleasing neighborhood, the neighbors are going to be mad at me about that car being there bringing the property values down, and they won't have any sympathy for me when some kid comes along and smashes it with a baseball bat and paints "Piece of ****" on the side of it. It's the same thing with those neglected buildings sitting there year after year, making the city look like a dump. At that point, you can spray them or not, but they're still going to be ugly, neglected and hazardous.

