Wide reaching* |
Nonsense. I don't even think of myself as a YIMBY. The US Census 2018-2022 owner-occupied housing unit rate in Montgomery County is 65.5%. One-third of housing units in Montgomery County are not occupied by their owners. |
Why do you keep citing this statistic? Are you going out of your way to prove their point? |
Because if you purport to be talking about housing in Montgomery County, but you don't include rental housing and the people who live in rental housing, then you're not actually talking about housing in Montgomery County. Who are they and what is their point? |
The PP was making a point about how disingenuous YIMBY talking points are. If you’re rejecting the idea that projects that don’t pencil don’t get built, then you should retake Econ 101. |
+1. The housing market is complex because it’s not functioning properly in most places, because every metro is different, and because the relationship among various types of housing is fluid. As to whether there’s a housing crisis in MoCo, the for sale market is tight, while the rental market is roughly balanced. Median prices for homes for sale have increased much more quickly than rents in the past five years. If there is a housing crisis, the problem is in the for sale market. In the apartment market, rent increases have had two main drivers. The first was the catch-up year when landlords raised rents more than they historically after rent control. The second was (and remains) unmet demand in the for sale market filtering into the rental market. The unmet demand in the for sale market increases demand for rentals (from more people being priced out of ownership) and creates risk for new projects because an increased supply of homes for purchase would reduce demand for rentals and cause rents to fall. That’s a tough risk to price for a variety of reasons. When risk is difficult to price, builders can’t get financing. |
Another housing denialist, or maybe the same one. |
HUD’s analysis says there isn’t a crisis, and developers have repeatedly told Planning that they think demand is soft, so I guess they’re all denialists too. Should I go with HUD’s housing economists and people who have money on the line or lobbyists? |
Can you cite to what you are talking about from HUD? Admittedly I didn’t spend too much time looking, but the WH certainly thinks there is a housing crisis, and the fact sheet on HUD housing main section page certainly indicates there is a problem that needs addressing: https://www.hud.gov/sites/dfiles/Housing/documents/Housing_Supply_FHA_FactSheet_07-22.pdf https://www.whitehouse.gov/briefing-room/statements-releases/2024/03/07/fact-sheet-president-biden-announces-plan-to-lower-housing-costs-for-working-families/ |
It’s really bad in some markets. This market isn’t one of them. There’s a housing crisis when developers want subsidies but demand is soft when developers want to shrink projects or get plan extensions approved. |
Thanks. But are you the PP who mentions HUD research? If so would you mind a link to the cite? |
Where is this HUD analysis that says there isn't a housing crisis? Please also explain why "developers have repeatedly told Planning that they think demand is soft" means there isn't a housing shortage for people. |
If developers are curtailing construction because they’re worried about oversupply and planning is approving their requests then there must be oversupply. I can’t imagine planning approving things that weren’t in the public interest if there’s a crisis. |
LATEST:
https://moco360.media/2024/07/26/county-council-may-consider-proposal-to-allow-more-housing-options-in-single-family-home-zones/ Maybe Andrew Friedson isn’t concerned about lawsuits (or so he says), but there could be a chance that he is interested in being reelected. “While Friedson has been supportive of the proposed initiative, he told council staffers during Monday’s Parks, Housing and Planning Committee work session that they needed to clarify what the Planning Board is actually recommending before legislation could come before the council. He described some of the proposed language and regulations in the initiative as confusing and “doublespeak.” “I don’t think we need to wait on obtaining information. Knowledge is power here, so let’s get a handle on what we’re talking about,” Friedson said.” |
Ugh. That is EXACTLY what happened to our neighborhood. Used to be a solidly middle-class neighborhood. Now overrun with multiple families crammed into one home, and cars all over. Very frustrating. |