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> I think everyone wins here. One theory I have (and it may be wrong): is that part of the rise we've seen in housing prices is due to WFH and AirBnB. Lots of
by timmg 4y ago
> I think everyone wins here.
One theory I have (and it may be wrong): is that part of the rise we've seen in housing prices is due to WFH and AirBnB.
Lots of people I've worked with who were WFH in the pandemic would spend a week (or a month) in a rental while they work, here and there. And during that time, their house/apartment would be empty.
Imagine everyone does that for (say) 3 weeks a year. That's a 6% increase in "housing usage". A 6% shock to the housing market is significant when supplies can't react quickly to the rise in demand.
- sjs7007 4y agoWhat about the reduction in office space usage that will have to be repurposed into something else?
- isbvhodnvemrwvn 4y agoOffice buildings are typically not suitable for conversion into apartments, there are no provisions for things like individual bathrooms or kitchens.
- bombcar 4y agoEven if they could be converted (and most buildings after a certain height are basically the same except for the interior) they'd likely be torn down and rebuilt; if they even can be due to zoning. People love to hate on zoning but there are reasons for it, even if the way it's done isn't perfect by a long shot.
- delecti 4y agoCommercial leases can't be repurposed that quickly, and I suspect a lot of companies are holding off on doing anything different with their office space. If the past two years have resulted in permanent change, then some office space will likely get repurposed, but it's too early to tell whether it's permanent, and nobody wants to jump the gun and get it wrong.