Is Part Of The Solution To The Housing Problem Already Built?

The affordability of housing in America is a well-documented growing issue.  Some public officials have declared it a crisis.  The recent spike in mortgage rates certainly will not improve the situation.  Public officials and developers have been searching for policies and real world opportunities to provide more affordable housing, but there are no easy solutions.  A recent  article by Mike Bebernes on Yahoo! News looked at whether America's growing vacant office space can be redeveloped to provide for more affordable housing options.

Bebernes begins by providing compelling data demonstrating the growing amount of vacant office space in America.  The coronavirus pandemic ushered in a new era of hybrid work situations and, in some cases, a significant growth in entirely work from home arrangements.  The result of that major shift in where people work is a significant decline in the demand for office space.  Bebernes notes that office occupancy rates in major urban