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" 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. "

not this again. new high end housing in a neighborhood undergoing gentrification may make housing in that neighborhood more expensive, as the area becomes more desirable. But that will soak up demand from OTHER neighborhoods and hold down or reduce rents there. It hasn't happened in DC because the combination of institutional constraints (including NIMBYISM), other causes of lag, etc mean that supply has not caught up to demand.

by AWalkerInTheCity on Dec 19, 2012 1:57 pm • linkreport

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