Reply to The Daily episode on the housing crisis

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]There is no housing crisis, there is only an entitlement crisis. People expect houses to be way larger than before, they want fancy kitchens, his and hers closets,  a separate bedroom for each child. Expectations have become completely detached from what the average person can realistically afford. This is a giant ruse by developers and the real estate lobby. [/quote]

This is wrong because we actively want a small starter home and don't care about big closets or a bunch of bathrooms or a big kitchen. We are fine with something 1200-1600 ft and don't need it to be updated. But what I'm describing will cost you 500-600k in the DC area. There are a handful of places where you can get it for under 500k but they have horrible schools and we want at least okay schools.

The problem is that houses like that haven't been built in 30 or more years builders can make a lot more off high end, huge homes). The ones that are out there get gobbled up by developers who will tear them down and replace with a 1.5m new build. And the demand for land by these developers drives up the price across the board. If you can even get one of these houses at all-- lots of people coming in with all cash offers or willing to waive contingencies because they intend to tear it down anyway.

So yeah actually there is a housing shortage that is unrelated to some people wanting extravagant houses that are also magically cheap.[/quote]

You are living in fantasy land. It's not even possible to build a new house that is 1600 sq feet for under 500k anymore in an area like DC.  Even if the land were free you would not be able to find someone to build you a house for this price, (including site prep).  Also, the median household income in the DC metro area is high enough to afford something that cost 500-600k, so it is not realistic to make a below average income for this area and expect to be able to afford to live in a the best school district. [/quote]

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