We’re also seeing a rapid increase in commercial vacancies with WFH. But there are big challenges and costs to turning commercial properties into residential.
I’ve heard a lot about the problems. Surely there’s some good ideas for a solution out there?
The thing that bothers me is the shortage is completely artificial. There are approximately 28 vacant homes in America for every unhoused person. I live next to a housing development with an ungodly number of 4 bed 2.5 bath McMansions, most of which have, as far as I can tell, sat empty for the last two years. Not for sale, not for rent, just parked as an investment.
This 100%. There is no shortage of physical houses. There is a shortage of AFFORDABLE houses.
I just went through the buying process. I don’t make any crazy money, but a totally fine amount, more then a lot of people (65k/year)
That meant even with a sizable down payment that I was rather lucky to have, my MAX was 200k. That meant I could afford like… 1/10 of the places for sale where I live.