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][quote=Anonymous][quote=Anonymous]The lack of sufficient and affordable housing suitable for families was a foreseeable outcome of the very policies that these people have promoted over the last decade. To wit. 
[quote] The DC Policy Center says that from 2018-2019, the only effective population growth in DC was from births. 
https://www.dcpolicycenter.org/publications/distri...ows-14th-year-row-weaker-rate/

Over the last 10 years, the GGW shills have been promoting and praising more and more smaller apartments, more studios and 1-BDs, even “micro-units”, over multi-bedroom family apartments and other family housing like new build THs. The claim is that there will be a trickle down effect, “benefits should eventually spread across all tiers of comparable housing”. 
https://ggwash.org/view/43334/were-building-apartm...be-far-smaller-than-we-used-to

Using these theories they have promoted gentrification of neighborhoods, including demolition of existing family housing to produce more and more “luxury” studios and 1-BDs. 
https://ggwash.org/view/73267/on-average-gentrific...-mean-its-not-painful-for-some

In 2020, the population of DC declined while the demand for family housing increased due to the number of babies with predictable results. Rents for “luxury” studios and 1-BDs fell by double digits. 
https://dcist.com/story/20/12/07/this-map-shows-where-rents-are-dropping-in-d-c/

In the meantime, prices of housing suitable for families, SFHs, THs and 3+ BD condos, have skyrocketed increasing by double digits. 
https://www.washingtonpost.com/business/interactiv...c-regions-2020-housing-market/

OOPSIES!

So now they are screaming about the need for more “Missing Middle” now that young, UMC white people want family housing. Should of thought about that 10 years ago. In fact, people were saying that DC should focus more on family housing 10 years ago, particularly the city’s low income housing activists but they were either ignored or shouted down as NIMBYS. So here we are.

In the meantime, RFK is coming down and instead of doing everything possible to turn that site into a beautiful TH and multi-family community that could house thousands of families, the GGW shills are trying to upzone Ward 3 which wouldn’t produce only a trickle of new family housing per year.

Just stop listening to these people.[/quote][/quote]

Yeah, totally. We've definitely overbuilt studios and 1 bedrooms, that's why it doesn't cost $2,000 to rent a 1 bedroom downtown.[/quote]
How much do you think it should cost?[/quote]

What I think they should cost is utterly irrelevant. The robust demand for studios and 1 BRs in DC is conclusive evidence that DC has not overbuilt studios and 1 BRs.[/quote]
Now I’m intrigued. So is $2000 a lot or a little for a 1-BD apartment downtown? You mentioned it so surely it has some relevance?

You seem to claim that it is evidence of strong demand. I think it’s therefore fair to ask what you think the equilibrium price should be. [/quote]

That's a red herring. There's strong demand for used cars. What should the equilibrium price for a 2011 Honda Accord be? Prices are what the market will bear, and the market for apartments in DC is robust.

DC's vacancy rate in Q1 2020 was 4.9%. The pandemic hit the rental market pretty hard, but it has already come down significantly from its peak, and currently stands at 7.9% (https://www.bisnow.com/washington-dc/news/multifamily/people-are-starting-to-move-again-dcs-apartment-market-shows-signs-of-recovery-108647), and had seen large YoY% rent increases prior to the pandemic. That does not scream an oversupply of studios and 1 BRs to me.[/quote]

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