Converting offices into apartments comes with challenges.

A big part of the problem? A lack of new construction and municipal zoning laws that discourage or prohibit multifamily homes.

With heightened competition to buy homes, many buyers are waiving inspections and other contingencies.

Investor purchases made up more than 1 in 5 home sales in December, according to CoreLogic.

The high-end project is clearing motels that provide an informal safety net for low-income renters. Officials say the motels are rife with code violations.

The influence of algorithms may be growing, but the larger problem is the shortage of shelter.

“You’re working twice as hard for the same amount of money,” says Mindy Palmer of helping buyers in a tight market.

Estimates of how many houses and apartments are needed to meet demand vary from just over 1 million to more than 5 million.

Construction of homes, especially those that are affordably priced, has fallen in recent years, according to National Assn. of Realtors.

Homebuilders are passing the costs of delays on to consumers because demand for houses is so high.