The Conversion of Rental Housing to Condominiums and Cooperatives. A National Study of Scope, Causes and Impacts

摘要

The report, prepared in response to a congressional directive, documents the present and future extent and the location of conversions; the factors contributing to their increasing numbers; and their effects on people, neighborhoods, and communities. Basic data were collected on converted buildings, the number of units they contained, and their locations. Data sources and methodologies were divided into four categories: (1) an inperson survey of current and former households in building units which have been or are in the process of being converted; (2) interviews with Federal, State, and local officials; (3) field visits by HUD staff to 37 Standard Metropolitan Statistical Areas (SMSAs) during which about 400 personal interviews were held with local experts from both the private and public sectors; and (4) existing data sources, including the Annual Housing Survey, other census and legal documents, data, etc. Data indicate that since 1970, 366,000 rental housing units have been converted, with only 18,000 of these being cooperative conversions. The rate of conversion has been accelerating: from 1977 to 1979, 260,000 units were converted, 71 percent of the decade's total. Most of the conversions have been concentrated in the 37 largest SMSAs, and 59 percent have occurred in just 12 of these areas. Nationally, the volume of condominium and cooperative conversions is expected to increase through 1985. The net effect of conversions on the rental market has been to reduce the nation's supply of available rentals by 18,000 units in the 1970 to 1979 period. Tables, graphs, and footnotes are included.