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Just to note, I am not against intensification including new construction of multiunit + MPDUs. And Patrick Thornton is more accurate than I was in describing the reason that prices don't drop--because demand isn't being met. It's not a filtration issue really. The other presumption is that it takes a long time to upgrade housing that declines (e.g. in the case of SS, Falklands or I am thinking 1500 Mass. Ave. NW, which I wrote up years ago--can't find the entry--in response to a critical Post article about the building being designated. I wrote that HP would help keep the property affordable. Yet since then the bldg. has been acquired by Equity Residential and has been upgraded).

I will say one thing about Chicago. Chicago is just so damn big compared to DC that it is a perfect example of filtration actually. And there is so much supply of extant housing that keeps prices down. That's been the case for at least 30 years (e.g., those of us in Michigan who thought about moving to Chicago paid attention to housing prices there). So I don't think it's an apt comparable for DC.

by Richard Layman on Jan 28, 2013 1:14 pm • linkreport

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