3 ms·
About 10% vacancy seems to be a healthy amount. If that were over the entire city, and not only in new developments, then people would have much more freedom to
by Decade 9y ago
About 10% vacancy seems to be a healthy amount. If that were over the entire city, and not only in new developments, then people would have much more freedom to move. And then prices would go down.
100% occupancy is bad, because it means the city is not flexible to changing demands. Fill up that new development 100%, and then the next person who needs to come in would need to double up, or bid higher and displace somebody.
That is my big problem with the Planning process, trying to manage growth. It’s slow and brittle to unanticipated changes.
- slg 9y agoIt isn't over the entire city, it is over a small neighborhood within the city. The vacancy rate in that neighborhood was at 12% while the entire city rate was at 4%. That plus the rate being at a 17 year high would seem to indicate a problem. [1] [1] - https://la.curbed.com/2017/9/15/16316040/downtown-la-high-vacancy-rate-rent https://la.curbed.com/2017/9/15/16316040/downtown-la-high-va...
- mjevans 9y agoYes it does. The problem is lack of supply in the overall market to drive the price to a reasonable point.