We have a favorite saying about the current housing market in D.C.: “Never have so many paid so much, for so little.” In the last several years, changes in D.C. government, combined with D.C. area residents growing weary of long commutes, have led to an influx of people moving into the District; people who are looking for a taste of urban life, and who have money to spend.
Everywhere you look, formerly abandoned or dilapidated buildings are sporting signs declaring “luxury condos” are on their way, or “urban lofts” are just around the corner. And if building cranes were birds, you’d be forgiven for thinking an entire flock has invaded D.C. But don’t take our word for it. Stand at the top of Columbia Heights (where housing prices are on the rise and gentrification tensions are heated) on 13th Street NW, look south, and count the cranes for yourself.
There are quite a few sources of information on the subject. Yesterday’s Examiner featured and article (not yet online) stating that the number of D.C. area homes selling for more than $400,000 has doubled in the past three years. The Post’s website has a compelling series of videos about issues surrounding a $424 million development that will demolish Near Southeast’s Arthur Capper Carrollsburg projects, affecting the fate of those who live in its 707 units. The videos also cover the performance of a play written by D.C. activist Anu Yadav (pictured here), about conflict between residents and the developer. Finally, the blog In Shaw covers housing costs in the neighborhood for which it’s named (even visiting open houses and posting pictures), as well as issues related to gentrification and neighborhood “economic diversity.”