Reply to The government has always been here. So why was the 50s, 60s, 70s, 80, 90s COL here so affordable?

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Reply to "The government has always been here. So why was the 50s, 60s, 70s, 80, 90s COL here so affordable?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Population growth and [b]supply and demand[/b]. MoCo alone has been adding 100,000 residents every decade, as has Fairfax. Where are they supposed to live? Not enough housing = prices go up.

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This. Laws of supply and demand. More people =&gt; more demand =&gt; higher prices for homes.

Except for high paid lawyers and lobbyists, salaries have not changed that much in the last decade. It's just that there are more people holding (relatively) higher paying professional jobs.

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"Between 2000 and 2016, the population in the Washington region increased from 4.86 million people to 6.13 million people. This change was the result of three factors: the natural increase (births minus deaths), net domestic migration, and net foreign migration. During this period, population gains occurred from the natural increase and net foreign migration while the region lost population from net domestic migration."

https://sfullerinstitute.gmu.edu/research/reports/migration-washington-region/

We're also predicted to add another million people in the next decade. Where are they going to live? "Inventory in the Washington region has been tight since the Recession." https://sfullerinstitute.gmu.edu/wp-content/uploads/2018/07/SFI_Upcoming_Housing_Market_0718.pdf

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This is exactly it.  The population in DC is growing and they aren't making anymore land, and most of the close in housing has already been built up.  In addition, DC has one of the highest levels of education anywhere in the country, which draws lots of employers who require a highly educated workforce, which draws more people to the area.[/quote]

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