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"Yes, those arguments are consistent. The market process works just fine. Units filter up to more attractive and expensive submarkets as demand increases."
So the market works fine for lower income people but not for "expensive submarkets"? I thought we where talking about affordable housing, not "I wish I could afford a two bedroom condo rather than a one bedroom condo on U street."

"so an immigrant family, with a job in NoVa, is supposed to move to a high crime area in EOTR DC, and accept a long commute" I had to move to a high crime area when I couldn't afford what I wanted in a low crime district. In fact, that's one of the reasons the neighborhood changed.

Does every expensive housing market mean the market isn't working well? Does the cost of luxury cars mean there aren't enough lower end models? Strange, all the cities like DC, Boston, NY, and London, while not perfect are usually the ones deemed to be "working". Didn't the market become much more affordable when the market crashed four years ago?

by Thayer-D on Dec 19, 2012 2:40 pm • linkreport

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