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Adept-Pension-1312 t1_j0hc24e wrote

Reply to comment by RoosterInMyRrari in DC's old Vanguard building to be converted into downtown apartments by Maxcactus

Hasn't there been ongoing residential development in DC at the same time as housing prices have gone up?

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9throwawayDERP t1_j0hsuyl wrote

Dc is the only major city in the US to have had median rents rise less than inflation over the last decade. The data is pretty clear about this.

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oxtailplanning t1_j0iitlh wrote

Plus if we build 20 new units, and 25 people want to move in, prices will go up still (but if we built 0 units, it would be worse.)

Supply deniers are just bizarre.

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9throwawayDERP t1_j0ixkir wrote

But they seem to be everywhere. Like you give them an example with iPhones or cars and they come to the right conclusion, but housing breaks their mind.

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oxtailplanning t1_j0iz83o wrote

The car example is especially apt. They get the concept of filtering there (Rich people buy new car, and sell their old. The fancy car from 2011 is the cheap used car of today), but you mention the same concept for housing and you're accused of "trickle down economics".

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KaiserReisser t1_j0hhcde wrote

Housing prices have gone up everywhere but they've gone up less in DC than other east coast cities.

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RoosterInMyRrari t1_j0hf7es wrote

Not nearly enough to keep up with demand. Our density is piss poor (thanks building height restrictions!).

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Here4thebeer3232 t1_j0ib7k0 wrote

Most European cities don't have high rises either. DC can achieve density without the need for them. The bigger issue is the massive sections of detached single family homes outside the core.

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RoosterInMyRrari t1_j0igpe8 wrote

Yes that is also an issue. Paris, which has few high rises, is MUCH more dense than DC.

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oxtailplanning t1_j0iixug wrote

Also the thing that limits height is rarely the height act itself but NIMBYs that fight everything.

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lc1138 t1_j0jkyac wrote

You tryna storm the palisades

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Vegetable-Ratio-5857 t1_j0k525m wrote

Does it occur to you that prices would have gone up even more without additional supply?

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