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America's housing shortage is keeping home prices high (www.axios.com)

submitted 2 years ago by lumberjacked@beehaw.org to c/news@beehaw.org

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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?

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[–] LoamImprovement@beehaw.org 0 points 2 years ago (1 children)

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.

[–] BReel@lemmy.one 1 points 2 years ago

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.