Reply to The Daily episode on the housing crisis

Forum Index » Real Estate

Reply to "The Daily episode on the housing crisis"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous] There are simply not enough units. I saw many buildings in small suburban and rural areas being bought up by people from big cities who saw they could buy low and rent high, and due to demand they can get by with making little to no improvements. Imagine living in a 10 or 20 story building without a working elevator and being disabled, elderly, or with a young child….It’s now the norm. 
The competition for the available units is fierce. 3x monthly income of rent and very good credit score, and that is still not enough.
The old mom and pop owners can’t keep up, and often turn to property management firms that charge more than expected and force them to raise rents. 
We need more housing. Period. Especially centrally located urban area where people can walk to stores and transit. I know it’s not easy to convert office buildings, [b]but it must be seriously considered to alleviate the problems.[/b] [/quote]

It's being seriously considered everywhere because its an easy idea that doesn't piss off people already living in residential areas.  It basically doesn't work unless you can charge super high end rents.  The conversion costs are so high that the vast majority of office buildings don't work economically to convert to apartments.  Not saying it isn't part of the solution, but it's like 5% of it.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics