A single property can either worsen or help solve a housing crisis depending on how it's used: converting it to luxury housing or short-term rentals reduces available housing stock, while using it as a mixed-use property where the owner lives in one unit and rents others to working families increases housing supply and affordability.
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This Anchorage Home Could Help Fix the Housing Crisis (Or Make It Worse)Added:
[music] >> You may have heard there's a housing crisis in Anchorage. See that way down there?
That's Anchorage.
I'm in Bear Valley.
You might be able to do something about it. That right there is a 7,500 square foot home with three different living units or eight bedrooms.
Now, someone could buy it and it could be an incredible two or three million dollar luxury home with an incredible view. That won't help the housing crisis. Someone could buy it and it could continue to be a short-term rental Airbnb style kind of place to crash.
That'll make the housing crisis worse.
You could buy it, live in one three-bedroom unit with your family, rent out the others to regular working people.
That's what will help solve the housing crisis.
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