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You think that building housing for more people won’t help the people who are looking for housing. The vacant homes count any vacancy even if they are for sale
by ianburrell 2y ago
You think that building housing for more people won’t help the people who are looking for housing.
The vacant homes count any vacancy even if they are for sale or between tenants. It is impossible to use those for housing. And putting people in them means that normal buyer and tenants couldn’t live there.
Rent is a market and landlords can only charge what people can pay. More cheaper housing will drive down rents, or more likely slow down rent growth since prices are sticky.
Building more homes would make existing home less valuable but would make the land under the homes more valuable cause could be used for more valuable housing. I also think that remaining houses will be more valuable for people who want house over apartment.
- thrance 2y agoBut if neither rent nor house price goes down, then we still have a crisis, don't we? I've never seen rent go down or slow down as a result of market forces, it must be forced by the local government. Why would building more homes drive price down? Why wouldn't the builders just sell it at market price?