The shortage has its roots in the financial crisis, and was exacerbated by the pandemic.
We’re also seeing a rapid increase in commercial vacancies with WFH. But there are big challenges and costs to turning commercial properties into residential.
I’ve heard a lot about the problems. Surely there’s some good ideas for a solution out there?
The only reason I got away from renting, even with the interest, was that it was still gonna be $100 cheaper, except +1 bed +1 bath and I actually OWN it.
Plus, with my loan the interest rate can’t go any higher, but can be refinanced if things go lower. So since I was basically break even on the current interest, I decided to take it.
I sort of like the idea that I can just… leave… and not worry about having an expensive albatross hanging around my neck. And my rent is low for the area so I’m doing better for now renting. I’d like to own eventually, I guess, but I prefer not to spend more per month if I can avoid it.
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The only reason I got away from renting, even with the interest, was that it was still gonna be $100 cheaper, except +1 bed +1 bath and I actually OWN it.
Plus, with my loan the interest rate can’t go any higher, but can be refinanced if things go lower. So since I was basically break even on the current interest, I decided to take it.
I sort of like the idea that I can just… leave… and not worry about having an expensive albatross hanging around my neck. And my rent is low for the area so I’m doing better for now renting. I’d like to own eventually, I guess, but I prefer not to spend more per month if I can avoid it.
My rent was gonna go up $300, so that made it pretty easy as well haha. (I woulda stayed renting too if it had been cheaper /month)