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Metropolitan DC Local Politics
Reply to "The DMV needs a YIMBY revolution "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]The highest demand is for affordable housing, and the least-highest demand is for market-rate or luxury housing. Yet YIMBYs insist that stuffing neighborhoods with market-rate or luxury housing -- the housing with the lowest demand -- will lead to lower prices. It doesn't add up. Filtering is a myth. https://x.com/KyrstensCloset/status/1830412290602291581[/quote] For filtering to work, market-rate or luxury housing needs to be the most in-demand housing. It isn't. [/quote] +1. Or high-end housing production needs to exceed growth in the number of high-income households. That usually doesn’t happen without a much steeper increase in rents than has happened in the DC area. Our relatively gentle slope in average rents means there’s less headroom for rents to go down before building here isn’t profitable enough (think 15% or higher annual returns — the level of greed we’re dealing with means 7% is a joke). [/quote]
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