Like all of you, I regularly lament just how expensive housing is in this area. I note that the boom is due, at least in part, to the expansion of the federal government.
But here’s something I didn’t realize- Local governments are also purposely continuing the housing shortage.
Thank you, local governments, for screwing over people who move here in search of work, who find productive, professional-level jobs, but still can barely make ends meet because their mortgage/rent payments eat 50% of their take-home pay. Thanks guys, we love you too.
Being a big believer in the free market, I believe the market will eventually sort this out. If people can’t afford to move here, they won’t, and eventually the folly of this approach will become evident. However, most new commercial developments typically have an anchor tenant. It would be nice if anchor tenants could remember that employees who don’t spend 2 hours a day commuting and whose paychecks aren’t decimated by rent are happier employees who stay with their companies longer.
This post appeared in its original form at DC Metblogs