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]They are interested in pushing the Gallery Place/DuPont Circle/Logan Circle density vibe up into CP and Tenleytown and reaping dividends in real estate and development. When you look at their bios and where the Board currently lives, one 16th street Heights, one Kalorama, one Park city - they are total YIMBYS seeking $ opportunity.[/quote]

How many new condos have been built in DC during the last five years? if that hasn't kept a lid on housing costs, what will? Has a single condo building been turned down? There are hundreds of new condos being built in Cleveland Park as we speak. Despite all that, try to find a house in Upper Caucasia that doesn't cost at least $1 million. Good luck. Upzoning is not going to making housing in the district affordable. The economic forces are much larger - they are nationwide. They are global. Suggesting that upzoning will make housing more affordable in DC is like saying that banning backyard fire pits will decrease global warming in Ward 3. It's just soooooooo dumb. The only thing upzoning will do is give high-end developers more inventory to sell. [/quote]
You see, what happened is that in the year 2000, the federal government passed laws that prevented people from building four-plexes in neighborhoods with SFH. That causes prices to spike so high that the Federal government in 2007 granted a one-time exemption which led to an explosion of new supply which causes the price of real estate to fall dramatically. However, once that one-time exemption expires the ban on four-plexes in SFH neighborhoods resumed which is the direct cause for the spike in prices that we see now.

[img]https://upload.wikimedia.org/wikipedia/commons/thumb/2/2a/Case%E2%80%93Shiller_Index.svg/1024px-Case%E2%80%93Shiller_Index.svg.png[/img][/quote]

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