return2ozma@lemmy.world to News@lemmy.world · 2 years ago

Downtowns are dead, dying or on life support, says expert with over 50 years of researching urban policy

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Downtowns are dead, dying or on life support, says expert with over 50 years of researching urban policy

return2ozma@lemmy.world to News@lemmy.world · 2 years ago

The Reagan White House moved to lower tax rates for developers in the 1980s and then years of low interest rates glutted downtowns with office buildings. Time's up.

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2 years ago
https://www.nbcnews.com/business/real-estate/why-empty-offices-aren-t-being-turned-housing-despite-lengthy-n1274810

“ In parts of the country where land is relatively cheap, it’s far less expensive to build housing from scratch than to convert old offices.”

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