'Study finds US does not have housing shortage, but shortage of affordable housing.'
There is a simple solution: drop the price of housing, both sales & rentals, including apartments, to where people can afford to pay. But most realtors would rather sit on all those vacant properties, rather than sell them at a loss. Property values have continued to increase over the years, and here we are, at an impasse.
@jjGravitas interesting. How do you drop the price of housing that is privately owned?
@kendonnelly
It's the owner's decision. He has a vacant house, wants to sell it, but no one is buying. He can either sit on it forever, or drop the price & sell it now. Even vacant properties must be maintained & maintaining vacant properties is like watching your money fly away.
@jjGravitas oh I see, on a case-by-case basis that makes sense. In some places, there certainly is an element of hoarding properties and waiting out the market to make a profit.