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Because even Brentwood is not affordable. I live there, in a rent controlled building no less, and it's barely affordable given my income. (The fact that it is rent controlled is a blessing and a curse. Philosophically, I'm against it, but I couldn't afford to live anywhere in the District without it, and not many places outside of the District if you factor in transportation costs to that for housing. But I digress.)

The problem of supply is hitting around the country. Preferences do seem to be changing, and much of the housing stock that should be affordable has not been well-kept these past few decades. Preservation is expensive! (Though a better economic decision in the long-run, per a study I'm wrapping up right now, actually.)

All of this is exacerbated in DC because of historic and height limitations on development, restrictions that make the market un-desireable to developers/building managers (yes, like rent control and our strong tenant protections) and the fact that many of the young people here aren't really the revitalizing-a-decaying-neighborhood-type. (Stereotyping, yes, but look around. Read a local blog. Young folks here are afraid of shadows after dark.)

It's a mess, and we'd better start thinking about some solutions -- not just for Millennials, though they are going to really drive this problem home -- but also for immigrant families, the working poor and any other demographic that doesn't have much to spend on housing and even less on transportation to get to a low-paying job.

by Elle on Jan 24, 2012 3:32 pm • link • report