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Are you actually arguing that there will be a marked decline in rental prices in Logan/14th Street NW as a result of supply increases either in that neighborhood or elsewhere in the region?

Not sure where you got this argument from, but I wasn't making it. However, it could happen - but it all depends on a) what kind of supply increases we're talking about, and b) what submarket of apartments you're expecting to see a decline in rents for.

AND many of those ads say the unit was renovated or has amenities that the people who can afford that would want.

Perfect evidence of filtering up: landlords are renovating their units to meet demand for high-rent apartments, as new supply is not fully capturing that demand because there is not enough of it.

$13,000/year for a one bedroom is not affordable for a two person family earning as much as $30,000/year. So what is your definition of "affordable"?

30% of gross income spent on housing is my definition. That's the HUD definition.

So, no - even if rents in Logan dropped that much, they might not be affordable for your hypothetical couple. But that's also not the point - the rent could very well be affordable in a downmarket apartment in an adjacent neighborhood.

The housing market does not limit itself just to Logan Circle.

by Alex B. on Dec 19, 2012 3:52 pm • linkreport

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