We need 500,000 units of affordable housing because the rents are too damn high. And the fundamental problem is supply and demand. And we don't have supply. We have about a 11 3/4% vacancy rate. So supply and demand justify. We have to create units B and C. Office conversions must be accelerated with feasible incentives that make it worthwhile for the landlord to do it. (1:28:45–1:28:50)
CLAIM
Asserts that there is an 11.75% vacancy rate.
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