Vacant Homes Won't Solve US Housing Crisis, Experts Warn
In the midst of a severe housing shortage, with over 4 million units needed to meet demand, the United States is grappling with a paradox: nearly 15 million homes sit vacant across the country. While some policymakers and analysts suggest utilizing these empty properties to address the crisis, experts warn that this approach would be misguided.
According to LendingTree, more than 5 million of the 15 million vacant homes are concentrated in just five states: California, Florida, New York, Texas, and Illinois. However, simply filling these vacant homes with renters or buyers would not alleviate the housing shortage, as it would merely shift the problem from one location to another.
"We're not going to solve the housing crisis by moving people into empty houses," said Rachel G. Bratt, a professor of urban and regional planning at Tufts University. "The issue is not just about supply, but also about affordability and accessibility."
Bratt pointed out that many vacant homes are in disrepair or have been abandoned for years, making them uninhabitable or unaffordable for low-income families. Moreover, the costs associated with renovating or rehabilitating these properties would be prohibitively expensive for most developers.
The issue of vacant homes is not unique to the United States. In Europe, countries like Spain and Ireland have struggled with similar problems, often due to economic downturns or urban flight. However, in some cities, such as Barcelona, innovative approaches have been implemented to repurpose abandoned properties into affordable housing.
In contrast, US cities have largely failed to address the issue effectively. A recent report by the Urban Institute found that many municipalities lack the resources and expertise to tackle vacant homes, leading to a cycle of neglect and abandonment.
The Biden administration has proposed several initiatives to address the housing shortage, including increased funding for affordable housing programs and reforms to the tax code to encourage investment in affordable housing. However, experts warn that these efforts must be accompanied by more comprehensive solutions, such as rent control measures and community land trusts.
As the US continues to grapple with its housing crisis, policymakers would do well to look beyond simplistic solutions like filling vacant homes. Instead, they should focus on addressing the root causes of the shortage: affordability, accessibility, and a lack of investment in affordable housing.
Background: The United States is facing a severe housing shortage, with over 4 million units needed to meet demand. This has led to record-high rent burdens and soaring homelessness, with over 770,000 people officially counted as homeless last year.
Additional Perspectives:
"The problem of vacant homes is not just an urban issue, but also a rural one," said John Atlas, president of the National Coalition for the Homeless. "We need to think creatively about how to repurpose these properties and make them affordable for low-income families."
"Innovative approaches like community land trusts can help address the housing shortage by providing affordable housing options for low-income families," said Rachel G. Bratt.
Current Status: The US continues to grapple with its housing crisis, with no clear solution in sight. Policymakers must work together to develop comprehensive solutions that address the root causes of the shortage.
Next Developments: The Biden administration's proposed initiatives are expected to be implemented in the coming months. However, experts warn that more needs to be done to address the housing shortage and make affordable housing a reality for low-income families.
*Reporting by Vox.*
