Reply to More MOCO Upzoning - Starting in Silver Spring

Forum Index » Metropolitan DC Local Politics

Reply to "More MOCO Upzoning - Starting in Silver Spring"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]There's rent vs buy calculators out there and the numbers are going to vary if you compare say an autoworker who had a lot of their net worth in a home bought in 1965 Detroit vs a government worker in 1965 Bethesda. In the end it comes down to you can't have housing both be a source of wealth growth for homeowners and something that everyone is going to be able to attain.

You might end up what we have now: strong political will to maintain high housing prices, vs the strong political will to build more housing.[/quote]

I don’t live in Detroit. I live in Montgomery County. There is strong political will to build housing here. What there isn’t are developers who are willing to drive prices down. You have to get it through your head that developers hold almost all the sway over how much housing is produced here. Every market is different, so this doesn’t hold everywhere. Just here.

And for the 1965 government worker in Bethesda (or Wheaton or Silver Spring) was both attainable and a source of wealth. The idea that housing can’t be both has been driven by corporate landlords who want to limit housing choice so that they can fix prices. [/quote]

Yes buying in (some) suburbs in 1965 was attainable and allowed tremendous wealth gains. Those gains come exactly from that housing now not being as attainable to someone in the same SES those 1960's buyers had when they bought. Thus, building more housing.

[/quote]
This is just fundamentally untrue. Go and take a look at the Case-Schiller Index. Housing has not historically been guaranteed to always go up and create wealth.

People purchased housing mainly for non-economic reasons and during the 60s in particular, as people started fleeing cities, they purchased housing to buy into stability and stability peace of mind. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics