Submitted by yunnifymonte t3_10n3bb6 in washingtondc
Texas_Rockets t1_j682624 wrote
Reply to comment by DistrictGrow in What do you like, or LOVE about Washington, DC? by yunnifymonte
The high rents that result are pretty sweet too. Love supporting medium sized businesses.
DistrictGrow t1_j683o19 wrote
NYC has higher rents. And taller buildings.
Texas_Rockets t1_j687o70 wrote
Their population is also 12x higher. In either case, that doesn’t mean restricting the supply of rental units doesn’t increase rent. Lower supply + constant demand = higher price
carbolicsmoke t1_j688kbc wrote
Honestly I don’t think the height restrictions are the primary cause of high rents. AFAIK most housing in this city is in the form of a 2-story townhouse.
Texas_Rockets t1_j688y4q wrote
2 story housing in a densely populated city is still really low. It sounds like you’re describing the suburbs, not a city.
Why do you think rents are high then? Simply by the law of supply and demand, keeping supply low is going to raise the price.
carbolicsmoke t1_j68feal wrote
Not denying there are supply constraints, only saying that building height is not the primary limitation IMHO.
Texas_Rockets t1_j68flx0 wrote
Who’s to say what the entire range of causes is. But my point was that prohibiting people from expanding housing supply vertically when horizontal space is at a premium can only place upward pressure on prices
pizzajona t1_j6a9dl7 wrote
Lots of residential neighborhoods are zoned to only 40 ft tall. That’s why they’re townhomes or small apartments.
Corporate_CPA t1_j68cqey wrote
Our population would increase if we had taller buildings too. High rents are caused by a lot of things. The argument that building height is the only cause is not fair. I understand why it is used when advocating for a policy position that this thesis supports.
I will also point out that you live in Logan Circle. One of the highest per sq ft rents in the city. And what makes Logan so beautiful and desirable? Lack of tall buildings, beautiful old homes, etc. If you added tall buildings there it would not be as desirable and everything that makes you want to live there, could be lost. I love walking around Logan Circle. Just like I love walking around Georgetown. But I live in a more affordable area of the city. There are plenty of beautiful neighborhoods with much more affordable rents. More affordable than the suburbs.
Texas_Rockets t1_j68g1gv wrote
I’m not saying it’s the only cause. But as a basic fact of supply and demand when expanding housing supply vertically is prohibited and horizontal space is at a premium that’s inevitably going to place upward pressure on prices.
I’m not arguing that higher buildings make a place more pretty. Just that allowing them let’s supply keep up with demand.
This is a complex issue but it’s well known and established that it’s largely an issue of supply
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