Tag: affordable housing

What you need is a time machine

4 Tardis PlateRegarding housing, I recently heard someone remark, or sigh, that one of those mansion-sized townhomes in Logan Circle was only $200,000 back in the 1980s or 90s, and today those type houses sell for around a million -2 million plus. Then there are the remarks others make about affordable housing, because now, unlike the 70s, 80s, and 90s hardly anyone is building affordable housing. My thoughts? If you want a cheap mansion or affordable apartment houses, you will need a time machine.

A one way time machine would be better.

The thing newer residents don’t seem to appreciate, is although we bought our houses in the neighborhoods you now can barely afford, they were affordable when some of us showed up. They were affordable because of the crackheads, the crack dealers, the prostitutes, the nightly gunfire, the break ins, the homeless guys peeing and pooping on your steps, and the odd dead body. Let’s not forget the schools that were so crappy DCPS made retired Army General Julius Becton, a man without a background in secondary education, school superintendent. He stepped down after 16 months. Not only was the housing affordable, the city was barely bearable.

Now if new residents would be fine with stepping into a time machine and restart their 20s and 30s in the Shaw or Columbia Heights of say 1995, maybe they will see that the price of our housing is more than dollars. Not only do I have some sweat equity, my youth, lack of peace, anxiety for my visitors & their property, and years of lost romantic opportunities* are also tied into the price of this house. Time and progress has healed those wounds.

Houses are affordable in parts of the District that are unfashionable. Gentrification is slowly making its way across the river. And here is the opportunity to jump in the time machine.

 

Side story= The Help, the man who is now my husband, was a very platonic friend when I bought my (now our) house. He had helped me move somethings into my new house and as he drove away he said to himself, “Is she that desperate for homeownership she’d live here?” He has told me this story several times and we do enjoy the irony?/humor of it. The Help could not have imagined living here, and enjoying it, anytime before, say 2008. Between breaking up with a boyfriend and dating my now spouse, I had been on 1 date in a ten year span. Daters would discriminate based on location.

Random thoughts on housing and affordablity – In Shaw – Mari in the Citi

There was a recent report on the relationship between minimum wages and the affordability of a two bedroom apartment. I’m going to reveal a little of my philosophical bent when I write a minimum wage job has as much to do with a 2 bedroom unit as a studio apartment as to do with housing a family of 4.

I remember a lovely trip to NYC where we visited the Tenement Museum, I highly recommend it. Large families would live in these cruddy little spaces which were the size of some studio apartments. We learned laws to make these places more sanitary slowly and later quickly incentivized landlords to close up the tenement apartments and just rent to commercial enterprises. There are costs to renting residential housing borne by the landlord, in the case of Lower East Side landlords, it wasn’t worth it.

So what are the costs to rent out say a small apartment building in DC. Well for one, you need to get a small apartment building. The cheapest building so far is an empty 4 unit near Ft. Totten for $895K. From what I can tell it needs work and could turn into 6 units if you have a lot of 1 bedroom apartments. The minimum monthly payment and we haven’t fixed the place for human habitation is around $6000. If the owner decides to fix it up, that costs money to pay for permits, labor and materials. Over $1500 a unit if we have 4 apartments, $1000 with 6. Insurance, maintenance, utilities for common areas, property taxes, and property management haven’t been added. There are some other concepts such as vacancy, that time when no one is in the unit covering the mortgage. Then there is the idea of profit because what is the point, unless you’re a non-profit with another motivation.

Even companies and persons who’ve owned their properties a while still have to pay for updates, maintenance, management (the people you call when you need maintenance), insurance, property taxes and a bunch of other stuff.

But when you are the one looking to rent, that doesn’t matter. There are many people looking to rent and if a landlord can charge $X,xxx for their dinky little 1 bedroom they will, provided it is worth renting it out over mothballing it.

This page contains a single entry by Mari published on May 30, 2016 9:12 PM.