One reason the U.S. government pushed for homeownership is because it’s thought to reduce turnover and build strong communities. Owners have a vested interest in their properties whereas renters don’t—but what if were to change?
Hong Kong, for example, has a significant number of apartment buildings where units are rented out as shells and it’s the responsibility of the renter to finish them and make them habitable. Renters have a reason to stay put and maintain the unit because they effectively own a chunk of it. When they do move out, a new renter adds a new interior, so units are always being updated.
Can this setup work for rental buildings in the U.S.?
Source: Metropolis
Related Stories
| Aug 11, 2010
Looney Ricks Kiss Architects wins industry honors for mixed-use, multifamily, and residential designs
Looney Ricks Kiss Architects won four Aurora Awards for its architectural designs during the recent Southeast Building Conference in Orlando, including a Grand Aurora Award for a Mixed Use Multi Family community located in the West Village area of Dallas.
| Aug 11, 2010
Jacobs, Arup, AECOM top BD+C's ranking of the nation's 75 largest international design firms
A ranking of the Top 75 International Design Firms based on Building Design+Construction's 2009 Giants 300 survey. For more Giants 300 rankings, visit http://www.BDCnetwork.com/Giants
| Aug 11, 2010
See what $3,000 a month will get you at Chicago’s Aqua Tower
Magellan Development Group has opened three display models for the rental portion of Chicago’s highly anticipated Aqua Tower, designed by Jeanne Gang. Lease rates range from $1,498 for a studio to $3,111 for a two-bedroom unit with lake views.
| Aug 11, 2010
Architecture Billings Index flat in May, according to AIA
After a slight decline in April, the Architecture Billings Index was up a tenth of a point to 42.9 in May. As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lag time between architecture billings and construction spending. Any score above 50 indicates an increase in billings.
| Aug 11, 2010
Construction employment declined in 333 of 352 metro areas in June
Construction employment declined in all but 19 communities nationwide this June as compared to June-2008, according to a new analysis of metropolitan-area employment data released today by the Associated General Contractors of America. The analysis shows that few places in America have been spared the widespread downturn in construction employment over the past year.
| Aug 11, 2010
Jacobs, Hensel Phelps among the nation's 50 largest design-build contractors
A ranking of the Top 50 Design-Build Contractors based on Building Design+Construction's 2009 Giants 300 survey. For more Giants 300 rankings, visit http://www.BDCnetwork.com/Giants
| Aug 11, 2010
Arup, SOM top BD+C's ranking of the country's largest mixed-use design firms
A ranking of the Top 75 Mixed-Use Design Firms based on Building Design+Construction's 2009 Giants 300 survey. For more Giants 300 rankings, visit http://www.BDCnetwork.com/Giants
| Aug 11, 2010
10% of world's skyscraper construction on hold
Emporis, the largest provider of global building data worldwide, reported that 8.7% of all skyscrapers listed as "under construction" in its database had been put on hold. Most of these projects have been halted in the second half of 2008. According to Emporis statistics, the United States had been hit the worst: at the beginning of 2008, "Met 3" in Miami was the only U.S. skyscraper listed as being "on hold". In the second half of the year, 19 projects followed suit.