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Metropolitan DC Local Politics
Reply to "Zoning Laws and People Being Priced-out"
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[quote=Anonymous][quote=Anonymous]It doesn't have to be a $2.5 million dollar house, that's just what the builders charge. They are making a killing. It doesn't cost them much over $100/foot plus the lot. You do the math. However, it costs to build. So, if you want a smaller house, buy a teardown and build a 2000 sq ft. house, but it will cost not much less than a 6000 sq ft one, so you will lose money. [/quote] no its not just "what the builder charges" its what the market creates. A house is only worth what someone is willing to pay. I live in a transitioning neighborhood in DC with a terrible in bound schools, row houses are going for 900k. and its not like they can be torn down for a mcmansion. Restrictive zoning pushed by NIMBYs, especially in Bethesda, where people think any multifamily building will destroy the character of their neighborhood, does more to restrict housing supply and drive up costs. We need a lot more 4-4 bedroom multifamily buildings. [/quote]
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