I'm a big believer in having affordable housing in YOUR neighborhood, but not in MINE. I want my neighborhood as unaffordable as possible.

Anonymous wrote:

Anonymous wrote:Basic supply and demand. Increase the supply of something and value will decrease.

Paradoxically, because rent control serves to decrease overall supply, rent control raises prices overall.

Basic supply and demand also says that if prices go down, demand goes up.

The demand is already there. Right now the constraint is on the supply side, so increasing supply should move the price curve down.

Anonymous wrote:Loosening zoning laws will lead to more housing in DC. That's a good thing.

Exactly. Zoning laws were enacted in part to support segregation, both racial and economic. "The Color of Law" provides a good analysis. For the most part, the land-use/preservation is generally a smokescreen.

It’s funny Bowser wants to make the city more dense but does nothing in the way of preparing the city’s infrastructure for more people. They can’t even take care of the metro.

There are more effective ways of creating affordable housing but they are expensive and the city doesn’t want to spend the money. And developers’ campaign contributions are extremely important to our elected officials so they give developers whatever they want and pretend it advances affordable housing.

Anonymous wrote:Basic supply and demand. Increase the supply of something and value will decrease.

Paradoxically, because rent control serves to decrease overall supply, rent control raises prices overall.

Basic supply and demand also says that if prices go down, demand goes up.

Basic supply and demand. Increase the supply of something and value will decrease.

Paradoxically, because rent control serves to decrease overall supply, rent control raises prices overall.

Supply and deman? If there was only one house on the planet that house would be owned by a billionaire.

Not driving out existing rent control is another obvious way to hang on to affordable housing.

Anonymous wrote:

Anonymous wrote:It doesnt. If the mayor wants to preserve current affordable housing, grandfather people in or whatnot. Building more housing will simply draw more people in as you say .

No it doesn't work that way. At all.

Lots of existing housing is being rehabbed and flipped or in some cases being sub-divided to create additional units - in fact that is usually the first step towards housing prices going up in neighborhoods, not new condos and apartments. Big developers have to outlay a lot of money to build housing and are almost never the pioneers in gentrifying neighborhoods - small scale developers usually are.

And I don't know what you are talking about WRT to grandfathering people in unless you want some sort of freeze on rents and housing prices - I don't think anyone who owns property in DC would ever go for such a nutty idea and I can't imagine how it would be legal.

By grandfathering I am talking about things like the homeowners tax break, which we already get. Or loan programs. Helping people hang on to their existing homes if they want to.

Anonymous wrote:It doesnt. If the mayor wants to preserve current affordable housing, grandfather people in or whatnot. Building more housing will simply draw more people in as you say .

No it doesn't work that way. At all.

Lots of existing housing is being rehabbed and flipped or in some cases being sub-divided to create additional units - in fact that is usually the first step towards housing prices going up in neighborhoods, not new condos and apartments. Big developers have to outlay a lot of money to build housing and are almost never the pioneers in gentrifying neighborhoods - small scale developers usually are.

And I don't know what you are talking about WRT to grandfathering people in unless you want some sort of freeze on rents and housing prices - I don't think anyone who owns property in DC would ever go for such a nutty idea and I can't imagine how it would be legal.

Anonymous wrote:I hear this constantly asserted, as if it were self-evidently true, but cannot figure out how it could possibly be correct.

There's 700,000 people in the District. There's 5 million in the suburbs. If you add 30,000 housing units in DC, they will instantly be soaked up by people in the suburbs looking for shorter commutes.

As people move into DC from Falls Church and Rockville and Fairfax, their old places will open up for other people. Other people will move into those places from suburbs even further out, which will open up slots in places like Chantilly or Columbia or wherever else those people are coming from and that would put downward pressure on housing prices in the suburbs they've left.

But how does any of that lead to affordable housing in DC?

It leads to more affordable housing in DC because the trend you describe of people voting with their feet to move closer in for shorter commutes is already happening and it is largely responsible for the existing run up in housing prices. Not building more units in DC will just make the situation worse.

BTW lots of additional housing units in close in suburbs are also being built near transit and that is also a good thing as is the fact that with the Silver and Purple Lines are going to add another 30 miles of convenient high capacity transit that will also generate additional transit oriented development.

Also in some ways it is not a bad thing if you already own a house in DC if this trend of people moving closer in continues as it adds a lot of money to the tax base which is a big positive if you are a fellow tax payer.

The downside is we don't want a city that only the wealthy can afford so it really makes sense for DC (and close in suburbs) to do whatever they can to accommodate the demand for close in housing near transit.

Hopefully some of the progressives around here also care about the environment and want to act locally to do whatever they can about global warming.

Loosening zoning laws will lead to more housing in DC. That's a good thing.

It doesnt. If the mayor wants to preserve current affordable housing, grandfather people in or whatnot. Building more housing will simply draw more people in as you say .

I hear this constantly asserted, as if it were self-evidently true, but cannot figure out how it could possibly be correct.

There's 700,000 people in the District. There's 5 million in the suburbs. If you add 30,000 housing units in DC, they will instantly be soaked up by people in the suburbs looking for shorter commutes.

As people move into DC from Falls Church and Rockville and Fairfax, their old places will open up for other people. Other people will move into those places from suburbs even further out, which will open up slots in places like Chantilly or Columbia or wherever else those people are coming from and that would put downward pressure on housing prices in the suburbs they've left.

But how does any of that lead to affordable housing in DC?