There is a Housing Shortage

There is a Housing shortage? -? Here are three ways to fill the gap

To close the housing gap in the United States, several strategies can be implemented. Here are three ways to fill the gap:

1. Adaptive Reuse: One approach is to repurpose existing buildings, such as underperforming hotels, into residential spaces. This strategy, known as adaptive reuse, involves converting hotels, especially those with suites, into efficient micro apartments.
2. Build New: Another way to address the housing shortage is by increasing the supply of both single-family and multi-family homes. By boosting construction in both sectors, the housing market can achieve a better balance and alleviate pressure on both sale and rent prices.?This approach comes at a higher cost and will not meet the housing needs of those on a fixed income.
3. Policy Changes To Speed Development: Implementing policy changes can also help close the housing gap. This may involve revising zoning regulations to allow for more housing development, streamlining the permitting process to expedite construction, and providing incentives for builders to construct affordable housing units.

These strategies, along with other innovative approaches, can contribute to closing the housing gap and ensuring that there is an adequate supply of homes to meet the needs of the growing population.

As a real estate investor, we are looking to become a part of the solution. We are using th

adaptive reuse approach in Louisville Kentucky. Set up a call here to learn more.

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Sources: https://www.cnn.com/2023/03/08/homes/housing-shortage