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by epistasis 307 days ago
People lie about high vacancies in new buildings almost compulsively.

There was a big splash of PR for a report on high vacancies in new LA apartment buildings a few years ago, and it had to be retracted within a week because the methodology was pretty much nonexistent, like counting lights in windows at night and not realizing that people visit friends, go to concerts, go out to eat, stay at their girlfriend's place, or any one of many other things that keeps lights off in occupied apartments.

I see it with every single new multistory building in my small downtown. People complaining about a building being fully empty shortly after it has been built, when in reality it's filling up faster than planned and there are only 20% of the units left.

Yes, there are lies, but in my experience the lies are only for too many vacancies.

1 comments

That is quite a wild methodology. Just go try to rent an apartment in the off season and you'll see how few vacancies there are.