I keep hearing that empty office buildings are an economic time bomb. I keep hearing that housing inventory is low which is why house prices are high. Why can’t we convert offices to homes?

Question

I keep hearing that empty office buildings are an economic time bomb. I keep hearing that housing inventory is low which is why house prices are high. Why can’t we convert offices to homes?

In: 4298

Answer 1

Zoning laws: existing commercial office space isn’t on land approved for residential use.

Many office buildings may also lack parking required for residential use, and have a lot of interior space that isn’t really valuable for housing.