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

Often there are zoning or planning restrictions on what a building can be used for. Residential buildings have different requirements, for fire prevention and fire evacuation, as well as residential areas requiring services like schools, hospitals and shops in the local area as well as parking.