Monday, August 22, 2016

Bloomingdale mentioned in Atlantic article titled "Will DC's housing ever be affordable again?"

Click on the link to read the entire Atlantic article:

Will D.C.’s Housing Ever Be Affordable Again?

Over the next decade, the city’s demographics will change dramatically, and housing policy will largely determine who gets to stay.

  • D.C.’s affordability problem arrived and grew—rapidly. For low-to-middle income households, average monthly rent in the District has gone up by between about $50 to nearly $400, adjusted for inflation, between 2002 and 2013. The number of apartments that cost less than $800 per month, adjusted for inflation, was nearly cut in half in that same time period. Incomes, meanwhile, have remained largely the same.
    “What we’re trying to do is prevent pressure from being applied in some of these other neighborhoods — Eckington Trinidad, Bloomingdale — where some people are moving to these more affordable places and some residents at the lower end of the income scale are at risk of getting pushed out due to the competition over rents,” Donaldson said.

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