Housing Complex

Morning Links

convJust how perverse is the homeownership craze? Imagine buying food the same way. [NYT]

Students create a map of where D.C. homeless kids go to school. [Middle Child in DC]

The Farm at Walker Jones bids adieu. [WJFarm]

The wasteland that will become the world's largest urban greenhouse. [Atlantic Cities]

DDOT shames people who park in bike lanes. [DCist]

The aftermath of the K Street NW strip club collapse. [Curbed]

Logan Circle garden will become residences. [SALM]

Adams Morgan dog daycare could become up to 145 residences. [UrbanTurf]

Until it's replaced, MPD headquarters is in rough shape. [WBJ]

Today on the market: 1BR condo by the convention center—$414,900

  • Colin
  • Colin

    Also, the Curbed link is busted.

  • http://www.washingtoncitypaper.com/blogs/housingcomplex/ Aaron Wiener

    Fixed, thanks!

  • NotDavidRicardo

    While clearly there are real benefits to home ownership, it also seems pretty clear that in a world without subsidies for it, it would be less widespread than it now is. And it seems like while there may be some positive externalities to home ownership, the negative ones tend to be far greater (though unfortunately that will vary locally, and our biggest incentives are national)

  • Zeus

    Wow, what a dumb take on homeownership. You have to live somewhere, and you have two options, own or rent. Now, if you own, the value of your home is yours. You're paying the money to yourself. After 20 or 30 years (or even much less), you get all of the money you put in back, if not more.

    When you rent, you're dumping the money down a hole. You never see that money again, you never get any of the money back, nor do you see any return at all.

    Taken as a given that I need shelter, should I pay lots of money for that shelter that I'll never see again, or should make regular payments on shelter that I own and can sell, allowing me or my children to get all of of the money I put in back at the end?

    Yes, there are downsides to homeownership- taxes, maintenance, ect. But consider that a landlord has those costs too, and they pass them onto you in your rent, with plenty of room for profit added on top. Homeownership is perhaps the greatest tool for building intergenerational wealth- and thus intergenerational social mobility- that there is. The housing market is not going away. Somebody will own your home and make money off of it. You should make that somebody you.