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Metropolitan DC Local Politics
Reply to "DC had largest percentage drop in population in nation"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I just don't understand why the housing inventory continues to be at historic lows if there is a significant number of people from the city. Are people moving but keeping their property? [/quote] This Washington Post article explains half of the story, rental vacancies shot up to 7.7%. https://apple.news/ACwycHq-CTQCFbd5SaEVluw The other half of the story is that there is a huge cohort of people in their 30s, Millennials, who are starting to form families. The big question for me is not why inventory is low. What bothers me is why rental prices are increasing, particularly as more and more new buildings are being delivered. Really throws a huge monkey wrench in YIMBY/GGW theories. [/quote] Anything can throw a monkey into YIMBY and GGW. Their philosoply is political rather than economics based. They don’t know basic economic concepts but rely on socialist arguments of equality. [/quote]
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