News – Page 6 – Habitat Abstract

Cities Explore Office to Apartment Conversions to Address Real Estate Issues

Cities across the East Coast of the United States are examining the potential of converting vacated office buildings into apartments for people to live in. This is meant to address both the lack of availability of housing, as well as dealing with the large number of office buildings that now sit empty or minimally occupied. However, while office to apartment conversions may seem efficient on its face, there are a number of significant hurdles that will need to be overcome before these plans can be implemented.

Uncertainty in Housing Market Led to Falling Sales in April

Housing sales fell by 3.4% between March and April as a result of uncertainty in the housing market, with many prospective buyers concerned about the effects of high prices and ever-shifting interest rates. Although prices have fallen somewhat since the…

Mortgage Applications Down Despite Falling Interest Rates

Demand for mortgages has fallen for a month straight, despite mortgage interest rates retreating from their previous highs. This drop in mortgage applications is attributed to a number of factors, including interest rates still being significantly higher than they were…

Companies Begin to Offload Office Buildings at Deep Discounts

Prior to the COVID-19 pandemic, office space was at a premium in cities across the country, especially in markets like New York City. However, with many formerly commuting employees now working from home, many companies have begun to offload their…

Housing Shortage Leads to High Real Estate Prices

The residential real estate market has been suffering extensively from a housing shortage that has driven prices up dramatically. According to the National Association of Realtors, the amount of homes available for purchase is only half of what it was…

Housing Shortage Leads to High Real Estate Prices

The residential real estate market has been suffering extensively from a housing shortage that has driven prices up dramatically. According to the National Association of Realtors, the amount of homes available for purchase is only half of what it was in 2019. This housing shortage has especially affected lower income households, which have had a harder time than ever finding affordable homes. As a result, there is a substantial amount of demand for housing that has not been met.