Greater Greater Washington

Report a Comment

As 14th Street NW transitioned from what it was for many years to what it is becoming now, lower cost/density housing was changed irrevocably. Existing structures were upgraded in part to justify much higher rents/sale prices and to offer many of the housing amenities that market would require. New housing was built that included $300k-$600k one bedroom condos. It is not just the SUPPLY but the type of housing supplied that influences price. Dramatically increasing further the supply of expensive condos and apartments with lots of amenities will NEVER result in a substantial and sustained reduction in the price point or average rent in that neighborhood. The same thing is happening/happened in Capitol Hill, H Steet, etc. Housing prices are not than influenced by short or intermediate term changes in demand or supply on the margin. Prices are sticky. And as anyone who has owned real estate or lived in a "neighborhood in transition" will tell you, the momentum is almost always in a single direction. Price the prior neighborhood residents out and cater to the new, more affluent clients of the future. It never goes back.

by Tom M on Dec 19, 2012 1:53 pm • linkreport

Does this comment violate Greater Greater Washington's comment policy? If so, you can report it using this form and an editor will take a look.

Which rules in the comment policy do you believe the comment violates?
Comment is spam.
Comment attacks other individuals personally.
Comment is name-calling or berates, belittles, or interrogates others.
Comment discourages others from posting their ideas.
Comment is getting into an aggressive argument with another.
Comment is trolling.
Comment is off topic.
Commenter is impersonating someone else or switching handles.
Comment uses profanity or abusive language.
Comment advocates violent acts or harm to another.
Comment was posted in multiple areas of the site.
Comment is arguing about the comment policy.

Enter any other information you think would be helpful to us:

Your name:
Your email:

To be sure you're not a spammer, please use the map below to answer this question:
If you are at the Friendship Heights Metrorail station and head inbound on the Red Line, what is the next station you will reach?   

This map contains the answer to the challenge question.
Click to see the larger map. Feel free to ignore station subtitles.
Administrator pagespam