TL;DR: Americans now need to make $120K a year to afford a typical middle-class life and qualify to purchase a home. Minimum.
TL;DR: Americans now need to make $120K a year to afford a typical middle-class life and qualify to purchase a home. Minimum.
LOL, no. The mess – in DC and every other major American city – is entirely on the zoning code not allowing developers to run rampant enough, and instead enshrining single-family houses even when demand warrants multifamily.
DC is rapidly converting affordable homes into multifamily luxury units. Developers running rampant jacked up costs citywide.
Also, the city is less than 10 square miles and built on a swamp. Just based on infrastructure it can only handle so many people before it runs into serious issues.