Reply to Jamie Dimon thinks HQ2 will bring 100k jobs

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[quote=Anonymous]I'm genuinely confused as to why so much of this thread is discussing whether or not Amazon employees will be able to afford 1M+ homes.  That's not how real estate appreciation works, as any study of any other big city will show you.

The fact that most of the employees WONT be able to afford 1M+ homes is exactly why condos and houses in all of South Arlington will see significant appreciation.  If all the new employees were rich, yes, they'd probably live in the greater DC metro area in more appealing neighborhoods.  But what they'll be able to afford is apartments and condos in the most affordable area closest to their work (this is also true for the secondary jobs Amazon will create, for restaurants, etc).

There is a ton of open space on Columbia Pike, for example, that is already being filled with market-rate apartments and condos (despite the press the affordable housing builds get).  As more people move in, it will make that area more urban, and that density will support more businesses (coffee shops, grocery stores, gyms, etc) that will make the area more appealing for SFH owners.  And THAT will push up the value of the SFHs in nearby neighborhoods.

Increased demand at just about any price point leads to an increase in overall prices, and increased density (which increases businesses, increases walkability) makes neighborhoods more appealing at all price points.[/quote]

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