The city added like 50k units. They’re addressing the housing crisis. I live in a “luxury unit” I chose it cuz it had washer/dryer and a balcony but the apartment has ugly wood floors and cheap ugly countertops and a shitty shower. I’m waiting for the lease to be up and I’m gonna move to a new building once I find the right place.
It’s supply and demand. My leaving that ugly lower renting unit will free it up for someone else as I move to a more expensive unit. If they’re charging too much for it and can’t get offers they’ll simply re-list it at a lower price.
Yes, I know it’s supply and demand, the affordability crisis is happened because there aren’t enough units being constructed. Realistically, housing values shouldn’t appreciate faster than inflation, housing values are surging beyond that because we aren’t building enough to offset demand from the massive amount of millennial buyers out there.
Don’t get me wrong, DC is doing much better than most other places, but it’s still not enough.
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u/9throwawayDERP 23d ago
Does it matter? Yesterday’s luxury is today’s affordable.