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.
Unfortunately, in most cities that is illegal. Zoning laws prevent turning commercial property into residential even when it is possible. It also prevents developers from building moderate, high, and even certain types of low density housing.
Unfortunately, in most cities that is illegal. Zoning laws prevent turning commercial property into residential even when it is possible. It also prevents developers from building moderate, high, and even certain types of low density housing.