Spiraling Rents in our Region
http://thekojonnamdishow.org/shows/2012-05-10/spiraling-rents-our-region
Affordable rents in the DC region are disappearing fast; a recent report notes that half the number of low cost units available today than there were a decade ago. Rents are soaring as jobs continue to attract more people to our region and an explosion of new residential buildings feeds a mostly high-end market. Some say government needs to step in to ensure housing for everyone. We explore what's happening in the rental market, and how it affects all of our neighborhoods.
Guests
Lydia DePillis
Staff writer, Washington City Paper
Jenny Reed
Policy Analyst, DC Fiscal Policy Institute
Lisa Sturtevant
Director, Office of Housing Policy Research, Center for Regional Analysis; Assistant Research Professor, George Mason University
Matt Losak
Executive Director, The Montgomery County Renters Alliance, Inc.
Comments
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Kojo, can you ask your guests to comment on the issue of rising property tax rates causing financial pressure on both low-income homeowners and renters alike?
I would like for your guests to discuss more about the limitations on density and height. I wouldn't want a 15 story building on H St NE or Georgetown but if you look at Dupont, Farragut, Columbia Heights and other parts of downtown, it could easily use an additional 5-10 stories and that could do wonders to lower rents.
Want to clear up that higher density buildings in the form of taller buildings cost much more to build. Developers will not spend more money in construction and rent more units at affordable rates. So no, that is not a solution. Please offer OTHER solutions, such as adaptable reuse of existing buildings, smaller foot prints, and policy related solutions as in increasing the percentage of affordable housing mandates for developers. Thanks.
Guests please talk about building costs, that will answer your question. Demand is single user based. Most 20 somethings, will be single 30 somethings and 40 somethings. Please discuss about policy solutions and not just built form (market) solutions.
Ask your guests how they see the counties handle the infrastructure changes needed when the density increases. Arlington County and I am guessing other counties are serious overcrowding in schools.
this panel has an astonishing ignorance of basic economics, accompanied by marc fisher spitting the word "luxury." the young woman from dc policy shop sorta gets market forces. q's:
1. speak to higher construction costs and ppty tax..can a builder profitably construct low-mid income housing? if not..
2. is there a govt role? remember economics is about allocating scarce resources. is housing more important than health care, food, other essential services? you can't have it all
3. rent control leads to decaying housing stock (this is unarguable) so how to handle?
i could go on, but WAMU once again puts together a panel that agrees with itself.
They do cost more to build but you also have more units. The ancillary costs such as insurance, engineering and such are one time costs. If you're already planning a 10 story building, are you trying to tell me it would cost significantly more to build an additional 5 stories and that these costs won't be covered by the additional renters?
agree..but remember the ward 3 limo-liberals who are listening and clucking are the same ones who fight density. sorta like "lets keep all those oil refineries in Louisiana."
WHAT ABOUT RENT CONTROL????? That is a good thing, a needed thing. Where are the journalists who know how to talk intelligently about that?
GP Shortcut is absolutely correct: please offer OTHER solutions. Problem is, there's a lack of true thinking on this issue.
Slowly the mechanisms that ensured affordable housing have been chipped away until one day we all woke up and thought such a lack is just the norm, and people complaining about affordability and height limits are unrealistic communists/limousine liberals etc.