Calculated Risk: NY Times Upshot: "Where Have All the Houses Gone?"
2/26/2021 12:51:00 PM This is an excellent article by Emily Badger and Quoctrung Bui in the NY Times: Where Have All the Houses Gone? The authors discuss many of the issues we've discussed on why housing inventory is so low (pandemic, people renting homes, baby boomers aging in place, etc). A brief excerpt on the conversion of single family homes to rental properties: “Right now it’s a screaming good deal to have two properties: When my mortgage rate is 2.7 percent, why not have two of them?” said Michael Simonsen, the C.E.O. of Altos Research. “It took a long time, I think, to re...