The Biden administration announced new steps Friday to ensure access to affordable housing, launching a slew of resources to convert high-vacancy commercial buildings to residential use.
Sure, that’s a factor that needs to be considered, but another factor that needs to be considered is the value of the land itself. You can build cheap housing out in the middle of nowhere all you want, but it doesn’t matter how cheap it is if there are no jobs to pay for the housing and no services to get stuff like groceries conveniently.
Converting commercial properties to residential is certainly more expensive upfront, but it creates more housing where it actually is needed AND wanted, cities and suburbs.
Sure, that’s a factor that needs to be considered, but another factor that needs to be considered is the value of the land itself. You can build cheap housing out in the middle of nowhere all you want, but it doesn’t matter how cheap it is if there are no jobs to pay for the housing and no services to get stuff like groceries conveniently.
Converting commercial properties to residential is certainly more expensive upfront, but it creates more housing where it actually is needed AND wanted, cities and suburbs.