Reply to The government has always been here. So why was the 50s, 60s, 70s, 80, 90s COL here so affordable?

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Reply to "The government has always been here. So why was the 50s, 60s, 70s, 80, 90s COL here so affordable?"

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[quote=Anonymous]Everyone is basically correct

It's mainly supply and demand and a return to cities

In prior decades rings of housing were built out in the suburbs & people wanted to actually live there.

Starting around 2000 people stopped wanting to move into the next outer ring suburb

This drove up demand for places closer in.  Since closer in areas are already built out there is no more supply.

This combined higher demand with no new supply is what has driven up housing costs and by association cost of living.

The two  income trap is also a big issue which further drives up demand as people can  "afford" more to spend on a mortgage.  I don't think it's salaries as much.  Contrary to DCUM popular belief there aren't that many 500k+ HHI incomes.  There are plenty of HHI in the 250-500k range which is more a result of two incomes vs salaries over 250k.  There really aren't that many jobs like that.

One note there are still plenty of places where you can get a SFH for under 500k.  Eastern MoCo, parts of Alexandira, PG county, Annandale/Seven Corners, Bailey's Crossroads in Fairfax County etc.  Yes the schools generally aren't as good but plenty of people have less than 100k HHI around here and are living just fine.[/quote]

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