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?

  • dianne@beehaw.org
    link
    fedilink
    English
    arrow-up
    4
    ·
    1 year ago

    Corporations buying them up to rent out is my speculation, between that, people attempting to flip them, and just regular home buyers, it’s making for a very low amount available which causes prices to be high, and new houses aren’t being built fast enough to keep up.

    • yenahmik@beehaw.org
      link
      fedilink
      English
      arrow-up
      2
      ·
      1 year ago

      I live in an older neighborhood and at least 50% of every house that has gone on the market since we bought in 2019 has been sold to flippers and listed for $200k more 3-6 months later. I can’t believe how much they have driven up prices in the area.