A lot of two small houses can made into a condo that serves eight families or more (a very tiny condo).
The values of those eight condos isn’t equal to the two houses; the total value will be eventually be quite higher yet individually be more affordable.
That’s just the start. Let’s suppose 1000 single family homes were converted into a 4000 units.
The construction alone means economic activity, though that’s temporary.
3000 more families means more to that much more demand for services in the long term. Which ripples into more demand for service jobs, generating a demand for labor.
More incoming labor means more people, which means more construction activity due to demand.
Rinse and repeat.
San Francisco is missing out however, because the window of opportunity is passing; that is, if it hasn’t already passed.
A lot of two small houses can made into a condo that serves eight families or more (a very tiny condo).
The values of those eight condos isn’t equal to the two houses; the total value will be eventually be quite higher yet individually be more affordable.
That’s just the start. Let’s suppose 1000 single family homes were converted into a 4000 units.
The construction alone means economic activity, though that’s temporary.
3000 more families means more to that much more demand for services in the long term. Which ripples into more demand for service jobs, generating a demand for labor.
More incoming labor means more people, which means more construction activity due to demand.
Rinse and repeat.
San Francisco is missing out however, because the window of opportunity is passing; that is, if it hasn’t already passed.