10 ms·
This is a well studied idea, the percentage of units sitting empty is a round error in the total supply of housing. At the start of the pandemic there were a pa
by ch4s3 4y ago
This is a well studied idea, the percentage of units sitting empty is a round error in the total supply of housing. At the start of the pandemic there were a paltry 4000 vacant condos. For reference there are 2.3 million apartments in the city.
- thfuran 4y agoBut how many vacant apartments were there (or how many total condos)?
- ch4s3 4y agoThe vacancy rate of apartments is just at or under 4.5% which is considered a very tight rental market. I don't have the total condo numbers readily at hand.
- m0llusk 4y agoThat is not directly related. People and institutions holding residential units for investment purposes usually rent them out.
- ch4s3 4y agoThen they're on the rental market and don't contribute to a shortage in supply.