4 ms·

>> This is only a problem if it's prohibited by zoning. Otherwise it just gets reflected in the price. Depending on HOW the building was constructed (read: a l

>> This is only a problem if it's prohibited by zoning. Otherwise it just gets reflected in the price. Depending on HOW the building was constructed (read: a large majority of office space), you will be unable to deal with the plumbing issues. Total volume of water to every floor + distribution of the bathrooms (where they need to be moved in an updated floor plan) makes these sorts of change overs prohibitively expensive. We have seen these sorts of transitions before! Large industrial spaces became "artists lofts". These were large spaces with single bathrooms (repurposed from the original plumbing installs). When these neighborhoods gentrified the very expensive conversions came in and made them into more "acceptable" living spaces. There was profit associated with that cost. Rezoning wont result in gentrified apartments, or affordable housing any time soon!

AnthonyMouse 3y ago
> Total volume of water to every floor + distribution of the bathrooms (where they need to be moved in an updated floor plan) makes these sorts of change overs prohibitively expensive. You say "prohibitively expensive" while ignoring both of the alternatives where it isn't. The first is dorm-style housing with shared bathrooms, and then you put the bathrooms where they are right now. The second is upscale housing, and then you invest in the conversion because you're targeting tenants who can pay. Either of these at scale increases the housing supply and thereby lowers rents for everybody.
- zer00eyz 3y ago
  > The first is dorm-style housing with shared bathrooms, and then you put the bathrooms where they are right now. No one wants to live like this. > The second is upscale housing, and then you invest in the conversion because you're targeting tenants who can pay. But they have to want to live there. Creating high end housing can be a challenge. > Either of these at scale increases the housing supply and thereby lowers rents for everybody. Supply isnt at issue. The demographics of Air BnB and empty investments in the US is appalling. We have more than enough housing for people its just empty or unlivable (see NYC real estate not getting updates due to rent control)
  - xnx 3y ago
    > No one wants to live like this. People (often recent graduates) pay a lot of money to live like this in NYC. The right price makes up for a lot of other deficiencies.
  - AnthonyMouse 3y ago
    > No one wants to live like this. There is generally not a law requiring college students to live in dorms. They can go and rent an apartment off campus. Why do they choose to do it? > But they have to want to live there. Creating high end housing can be a challenge. That doesn't require you to prohibit someone from trying. > Supply isnt at issue. The measure of whether supply is an issue is the size of rents. If rents are high, supply is low relative to demand. > The demographics of Air BnB and empty investments in the US is appalling. There is nothing wrong with Air BnB if you don't have artificial constrains on increasing supply. And the reason speculators hold empty units is the expectation that prices will increase, which is due to the expectation that supply will remain constrained as the population increases, which would be alleviated in short order through the adoption of policies that can reasonably be expected to relieve supply constraints by allowing new construction. > see NYC real estate not getting updates due to rent control In other words rent control is a terrible policy that constrains supply, which is one of the rare issues where there is broad consensus among economists.

AnthonyMouse 3y ago

> Total volume of water to every floor + distribution of the bathrooms (where they need to be moved in an updated floor plan) makes these sorts of change overs prohibitively expensive. You say "prohibitively expensive" while ignoring both of the alternatives where it isn't. The first is dorm-style housing with shared bathrooms, and then you put the bathrooms where they are right now. The second is upscale housing, and then you invest in the conversion because you're targeting tenants who can pay. Either of these at scale increases the housing supply and thereby lowers rents for everybody.

zer00eyz 3y ago
> The first is dorm-style housing with shared bathrooms, and then you put the bathrooms where they are right now. No one wants to live like this. > The second is upscale housing, and then you invest in the conversion because you're targeting tenants who can pay. But they have to want to live there. Creating high end housing can be a challenge. > Either of these at scale increases the housing supply and thereby lowers rents for everybody. Supply isnt at issue. The demographics of Air BnB and empty investments in the US is appalling. We have more than enough housing for people its just empty or unlivable (see NYC real estate not getting updates due to rent control)
- xnx 3y ago
  > No one wants to live like this. People (often recent graduates) pay a lot of money to live like this in NYC. The right price makes up for a lot of other deficiencies.
- AnthonyMouse 3y ago
  > No one wants to live like this. There is generally not a law requiring college students to live in dorms. They can go and rent an apartment off campus. Why do they choose to do it? > But they have to want to live there. Creating high end housing can be a challenge. That doesn't require you to prohibit someone from trying. > Supply isnt at issue. The measure of whether supply is an issue is the size of rents. If rents are high, supply is low relative to demand. > The demographics of Air BnB and empty investments in the US is appalling. There is nothing wrong with Air BnB if you don't have artificial constrains on increasing supply. And the reason speculators hold empty units is the expectation that prices will increase, which is due to the expectation that supply will remain constrained as the population increases, which would be alleviated in short order through the adoption of policies that can reasonably be expected to relieve supply constraints by allowing new construction. > see NYC real estate not getting updates due to rent control In other words rent control is a terrible policy that constrains supply, which is one of the rare issues where there is broad consensus among economists.