Testimony Before the House Committee on Oversight and Accountability

Doug Turner testified before the U.S. House Committee on Oversight and Accountability about addressing the housing crisis through the conversion of commercial buildings.

Building an Economy for All, Affordable Housing, Biden Administration, Economic Development and Governance, Family Economic Security, Housing +3 More

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Chairwoman McClain, Ranking Member Porter, and distinguished members of this subcommittee, thank you for the opportunity to address you today on an important aspect of the issue at hand. At the same time many communities have seen greater vacancies in office buildings, stores, and other commercial properties the nation is several years into a substantial housing shortage – and in particular an affordable housing shortage.

The problem is not new. Housing production has not kept pace with demand. After overbuilding and the burst of the housing bubble in 2007, production fell by over a third. Estimates of the current shortage are generally between 2 and 4 million units. But that number grows as housing production continues to lag new household formation.

The above excerpt was originally published in The House Committee on Oversight and Accountability. Click here to view the full testimony.

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Author

Doug Turner

Former Senior Fellow

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