I suspect the number of real "old-timers" and their descendants making out like bandits is actually lower than those getting screwed. If you can't take the sale money and find something close to comfortable in the D.C. Region, then you're getting screwed. |
That is where we live and its HOT HOT HOT! Its been great to spend our some of our 20s and early 30s as n Arlington's scrappy neighbor. Had all the perks, commute, shopping, restaurants, bars as the north minus the air of pretension at half the price. The area is changing rapidly though, and becoming more and more like the north. We need to move to something larger as our family expands and the housing stock that used to be in the 600s-800s is now 800- $1m+ and no longer affordable. Sadly s arlington wasn't immune to gentrification, I guess it was only a matter of time. We absolutely love Hill East and it is suffering the same fate. We will either stay in our 1200sq ft or move to PG County.
People living in a scrappy "wealth adjacent" area waiting for it to change takes away these little unicorn neighborhoods. I wish people just lived there because of how awesome it is, not because they think theyll stay for a few years and leave with a satchel of cash. |
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| why is kicking poor people out a problem, poor isn't a protected class |
why is people not knowing how to manage something somebody somebody else fault |
Oh, hi developer! Please don't include me in your "we need" pop-ups. Also, please stop with the phone calls and mailings. I'm not selling my house to you. However, there's a big artery 2 blocks away, that happens to be very close to metro, and it's full of boarded 2-story buildings already zoned to be massive multi-units. So let get on that first - build all the 6 story buildings 2-5 blocks from metro that can be built. |
I know of a grandparent at my kids school who didn't know her husband got a reverse mortgage until he passed. She was forced to sell and she couldn't afford the mortgage. No "real" money in the bank for them. |
PP here. Not a developer. At all. Just a YIMBY. If we want lower priced homes in the DMV there is one big step we can take: upzoning, which will increase supply. Supply supply supply is the biggest problem. You don’t get to complain about pop ups and also complain about high prices or rents. Because they’re two sides of the same coin. Height is still a problem in DC- look at the building near eastern market that got two floors chopped off of it because abutters complained to the zoning board. ggwash.org City lab Strongtowns.org All have more good things to read. |
Can someone explain why we need unfettered population growth in DC? Not everyone who wants to graduate college & move to DC deserves a low-priced apartment in a great part of town. I love that the GGWash crowd will decry the concept of "induced demand" when it comes to building roads and highways, but refuses to see development as a type of "induced demand" that lures people to the DC region. We have enough jobs, and enough people. Let the prices rise so that demand cools, and we can preserve the current quality of life with turning the city into Manhattan. |
Speaking as an economist, there are two problems, really variants on the same problem. Both of them arise from the fact that allowing housing prices to increase is a transfer of wealth from potential homeowners to existing homeowners. The first problem is about productive efficiency. If our hypothetical goal is to maximize the productive output of our economy, then we want the people to live in DC who have a comparative advantage in combining their own labor and knowledge with other local inputs (the labor and knowledge of others who live here, natural resources, etc.) to produce output. Of course, some of our local inputs exist in many other cities, but many of them just don't, especially because we're the seat of the Federal government which is fixed here. In a highly stylized model of the economy, when housing supply can adjust so that prices remain constant, people move to the city if they would prefer it to their next best alternative city. That means that the people who are unusually good at making use of DC's resources generally move here, because they can make more money here. But when prices rise because housing supply is fixed, some of those people instead decide to move to places were housing costs are lower, even though they would actually be more productive if they chose to live here. They are, in essence, misallocated. So, allowing housing prices to increase rather than building more housing is really not just a transfer of wealth to current owners, it actually reduces the amount of output in the economy, i.e. the amount of wealth to go around. This is what economists call a deadweight loss. The second problem is intergenerational, and it's in some ways a more insidious problem. Letting housing prices rise is a wealth transfer from younger people to older people, because existing owners tend to be older. Younger people are still in a position to develop their human capital (e.g. education) in order to take best advantage of the opportunities available to them. But, by making housing more expensive in cities like DC, you make it less attractive for those young people to get the education that would make them more productive in places like DC in the future. Later on, when those people are older, they are less productive because of their lower human capital, and it is much more difficult for them to adjust. So, in effect, high housing costs in places like DC can have very long-lasting impacts. There is some pretty good suggestive evidence that this is part of what's going on in America with our growing urban-rural divide and our declining rates of migration. In essence, it's so expensive to break into a city like DC that people just stay home, where they make much less money and they have fewer opportunities. That's a potentially large loss, because some of those rural kids might otherwise do great things one day. The problem here is potentially even worse, because DC has such a unique economy that can benefit from unique talents. |
Probably not the case at all. I daresay most are people who have walked away with a fair amount of money. You just want to buy into perpetuating the myth that AAs are always being screwed no matter what happens so you hold up one or two examples as representative of what's happening to everyone. |
That's DC specific, along with a few other big cities. But not a national problem. Most American cities are far more affordable. |
Well those elderly people have kids and other relatives who are no longer welcome in their community. Their churches and businesses are closing and new amenities pop up that cater to YOU and not them. Couple that with YOU calling the cops when they are sitting on their stoops listening to music like they've done for generations and they know they're really unwelcome, real fast. |
Yes, and I'm thinking that the people who are alive who are featured on that website - Tom Waits, Henry Rollins, for example - must be getting paid for their name and image being used. It certainly makes me think less of them. |
The churches are moving out to where most of their congregants now live and are making good money on a building that they did not have the funds to upkeep. No one is closing them down. |