America's housing shortage is keeping home prices high (www.axios.com)

submitted 1 year ago by lumberjacked@beehaw.org to c/news@beehaw.org

39 comments fedilink hide all child comments

We’re also seeing a rapid increase in commercial vacancies with WFH. But there are big challenges and costs to turning commercial properties into residential.

I’ve heard a lot about the problems. Surely there’s some good ideas for a solution out there?

you are viewing a single comment's thread
view the rest of the comments

[-] TehPers@beehaw.org 1 points 1 year ago

So companies/individuals that purchased a historically low rates are/may be reticent to sell because they can't secure a loan with the same rates they currently have.

Can confirm, the interest rates have been a huge deterrent to me for selling my home and moving. My current interest rate is 2.75%, back when I was looking around I was being quoted around 7%, which would have had a significant effect on my monthly payments.

It's easier to wait out the storm and move when the interest rates (hopefully) recover. They seem to be improved since I last was looking at places, but I don't think I'll be abke to get a rate close to what I have anytime soon :(

this post was submitted on 20 Jun 2023

55 points (100.0% liked)

World News

22057 readers

143 users here now

Breaking news from around the world.

News that is American but has an international facet may also be posted here.

Guidelines for submissions:

Where possible, post the original source of information.
- If there is a paywall, you can use alternative sources or provide an archive.today, 12ft.io, etc. link in the body.
Do not editorialize titles. Preserve the original title when possible; edits for clarity are fine.
Do not post ragebait or shock stories. These will be removed.
Do not post tabloid or blogspam stories. These will be removed.
Social media should be a source of last resort.

These guidelines will be enforced on a know-it-when-I-see-it basis.

For US News, see the US News community.

This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.

founded 2 years ago

MODERATORS