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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The unwritten story here is that these buildings with a small number of condos will turn into disasters for the condo owners.  The idea that these small condo associations will be managed well is zero.  Disputes will arise.  Finances will be poor.  Basic maintenance will be ignored.  Condo owners will make no money on them.  I would never advise anyone, including my children, to buy one.  The only people that will profit will be the developers and other real estate professionals.

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The primary purpose of housing is [u]housing[/u]. Not profit.

And nobody is forcing you to buy a condo in a building with a small number of condos.[/quote]

For all the above listed reasons, single family homes will be the next frontier for subdividing especially in close-in, historic suburbs. We all forget that 100 years ago, all those large victorian homes (both single family and rowhouses) were subdivided during that era’s housing crunch. Beginning in the 1970s many of those homes, then somewhat rundown, became single family homes again in places like Newton Mass., Logan Circle, Angelino Heights (LA), Alamo Square (SF), etc. They were beautifully restored, but now many of those large single family homes are once again being subdivided due to the current housing crisis / high demand for housing.

I can easily see the large homes in Chevy Chase, Takoma Park, Hyattsville, and other suburbs being subdivided into multiple condos/apartments. These are all transit adjacent neighborhoods near urban amenities, with a moderate to high level of preexisting density in proximity. All have high walkability scores. [/quote]

Single family home cost $400,000 in Hyattsville. There's tons of affordable housing in PG county. Not exactly a big incentive to subdivide houses.

In these other places, like Chevy Chase, people will simply stop selling their single family homes. At some point, if you own a single family home in a desirable area, you would have to be crazy to sell it. You can rent it out for far more than your mortgage costs and the underlying value of the home will go to the moon. At some point, owning a SFH in DC will be like owning a single family home in Manhattan. Only the rich and people who never sold will have them, and everyone else can go live in their claustrophobic little condos. [/quote]

[b]I have zero interest in ever selling my CC house and have been contemplating setting restrictions in our trust to prevent my kids/grandkids from selling for this reason for “x” amount of years.[/b] 25-50yrs from now, our property will be a goldmine and they can cash flow off it, or sell it for a ridiculous amount. Sadly; the only route Moco will head is to add significant density in what are currently wealthy areas. [/quote]

What a terrible thing to do to your children and grandchildren, tying their hands like that long after you're dead.[/quote]

yeah what a monster giving his kids a house that will be worth $15 million in 25 years. [/quote]

Even assuming he knows what the future holds - which he doesn't - controlling his children from the grave for 25 years? I wouldn't expect them to remember him fondly. Or even think of him fondly now, because anybody who wants to be that controlling after he's dead is surely also that controlling while alive.[/quote]

Ok well I think it’s safe to say that you’re an idiot who makes lots of bizarre assumptions[/quote]

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