Reply to We need homes. A lot of homes. Not just affordable, but also middle-income homes.

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Reply to "We need homes. A lot of homes. Not just affordable, but also middle-income homes."

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Adding more housing units will make housing affordable. Just look at Navy Yard.

It's probably the most densely populated neighborhood now in the city. It's almost nothing but condos.

And 600 square foot condos there cost....more than the single family homes that were knocked down to make way for them?  Wait, that wasnt supposed to happen. I thought increasing density was supposed to push prices down? [/quote]
[b]
Density suppresses increases in housing prices - this has been thoroughly documented in research. It's a settled matter.

The SFHs in Near Southeast were knocked down when 395 was built, the redevelopment of Navy Yard displaced mostly warehouses and night clubs, but that's neither here nor there. You're examining this from the wrong perspective. The question you should be asking is how much more expensive SFHs in Navy Yard would be if those condos hadn't been built.[/b][/quote]

Heh. This is all nonsense. Increasing density drives housing prices up because it creates economies of scale for businesses. When lots of people are packed into an area, restaurants and bars and boutiques want to be there too because they want foot traffic. People in turn want to live near walking distance of those restaurants and bars, which drives up demand to live in that area, which increases prices. That creates more incentive to build housing there, which draws even more businesses, which leads more people to want to live there, which further drives up housing prices.

But this entire upward spiral in prices was driven in the first place by the fact that condos created a critical mass of people to allow gentrification to take off. If those condos weren't there in the first place, single family homes in Navy Yard would be cheap today, because there wouldnt be much incentive to leave there, except that it's cheap.

You can read about what the recent changes in Navy Yard have meant here: https://storymaps.arcgis.com/stories/b6843312f4c145efbef65a8942fb987b

To quote:

"It may even be the most gentrified neighborhood in the nation. Since 2000, the median household income in Census tract 72 has increased ten-fold; the percentage of people with a college degree has increased ten-fold; and the average home value has increased three-fold. Although racial change is not technically included in the measure of gentrification (which focuses on economic changes), it is often part of the popular definition. Thus, it is worth noting that the Black population of this tract decreased from 95% in 2000 to 24% in 2018. And the White population increased from 3% to 68%." [/quote]

The article also says there were fewer than 500 residents in the mid-2000s, now there are 5,000. The condos and apts replaced warehouses, as the other posted said, not SFHs. And even if there were SFHs they would not be cheap!  [/quote]

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