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Understatement! 5% vacancy is a signal of “housing crisis” as currently experienced in many American cities. People carping about tiny vacancy rates has become
by ebikelaw 8y ago
Understatement! 5% vacancy is a signal of “housing crisis” as currently experienced in many American cities. People carping about tiny vacancy rates has become some kind of NIMBY meme: we don’t need to build new homes because look at the minute fraction of existing homes that are vacant!
- acranox 8y agoI live in a city that is in crazy high demand. Prices climb 10% a year. Demand is huge. There are two vacant homes on my block. (And another one two blocks away) But not because no one wants to live there. But because of stupid practices by the banks that have left these homes in a limbo state where someone left, and it’s not on the market at all. It’s just vacant. This is so stupid. People need housing. I wish the city would just take over the homes and let people live in them. And that’s just the three homes I’m aware of. There’s probably tons more.