WASHINGTON, DC-A survey by the local chapter of the Urban Land Institute found that 89% of survey respondents characterized the region's affordable housing problem as severe.
The survey respondents stated the area's affordable housing problem was either “very severe” or “somewhat severe.” Only 11% checked the box for the problem being “not severe.”
David Flanagan, president and principal at Elm Street Development, says the trend of people moving back toward the urban core has dramatically driven up the cost of housing in urban job centers, according to the Washington Post.
“That's been the biggest trend in the last 10 years, people being willing to live a little bit closer, both the Millennials and the empty nesters” he said. See story in the Washington Post.
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