I use United States Postal Service administrative data to show that, since the Great Recession, vacancy rates have fallen dramatically across almost all census tracts studied.pic.twitter.com/eADqVru6OS
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I use United States Postal Service administrative data to show that, since the Great Recession, vacancy rates have fallen dramatically across almost all census tracts studied.pic.twitter.com/eADqVru6OS
These new data flesh out an already-detailed picture of plummeting inventory: high prices, extremely short list times before market sales, and as few as 1.9 months of supply for the home sales market.
Hi Eddie, this is super interesting - really nicely done. Could you explain the USPS vacancy dataset in more detail? Also cc'ing the @AbundantHousing squad.
The USPS data is a collaboration with HUD. Analysts at HUD & other orgs have long been frustrated by lag times getting American Community Survey data. Since USPS constantly has workers in the field capturing data on vacant addresses, they’re able to provide more real-time data.
To what extent might we be able to encourage increased occupancy of even SFRs--renting out rooms/granny flats/garage conversions, etc? Making it easier for families to sub-divide homes could help at the margins, no?
Yeah I’m basically an “all of the above” person when it comes to housing supply. The relaxed ADU requirements are similar to this, but I would also be OK with outright subdivision.
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