The difference in price between an efficiency / 1br / 2br is often negligible. Explain the market force cause of this. Let's consider why older housing is so m

The difference in price between an efficiency / 1br / 2br is often negligible. Explain the market force cause of this. Let's consider why older housing is so much cheaper for a second.. Property tax isn't recalculated until you update the building or rebuild on the property. So it's a huge disincentive to ever change any buildings, split lots, etc.