DC housing crisis looms as rent payments fall behind: 'People could be put on the street’

[1srelluc]

DC housing crisis looms as rent payments fall behind: 'People could be put on the street’

Experts are warning that some affordable housing developers in the District are on the verge of collapse. Now, lawmakers say it’s time to crack down on one of the key factors at the root of the problem: tenants not paying their rent.

www.fox5dc.com

WASHINGTON DC - Experts are warning that some affordable housing developers in the District are on the verge of collapse. Now, lawmakers say it’s time to crack down on one of the key factors at the root of the problem: tenants not paying their rent.

According to insiders, affordable housing properties in Washington, D.C., could face closures in the coming months, potentially leaving thousands of residents without a home. This looming crisis has largely flown under the radar.

For-profit developers of affordable housing in D.C. are nearing collapse.

LOL....Laughs in Marian Barry Blvd.....You didn't have to be a wizard to have seen this coming.


Let me tell you what happens when The Poors can't pay in DC.

They get kicked out to MD and into PG county.

Then developers buy the land and build $2M condos. Its a story as old as time there.

The second The Poors can't pay, DC forecloses and BOOM, a developer buys the land and up go massive condos.

I guess the likes of Blackrock will roll in a "relieve" them of their burden.....Likely the plan all along.

 

[JGalt]

At least they'll have plenty of fentanyl and crack cocaine to ease their woes while they're living on the street.

 

[Polishprince]

Relief is on the way for the District of Columbia. After President Trump assumes office, expect that a lot of government agencies will be moved out of the area, giving some space for those who stay in the capital.

 

[Lisa558]

DC housing crisis looms as rent payments fall behind: 'People could be put on the street’

Experts are warning that some affordable housing developers in the District are on the verge of collapse. Now, lawmakers say it’s time to crack down on one of the key factors at the root of the problem: tenants not paying their rent.

www.fox5dc.com

WASHINGTON DC - Experts are warning that some affordable housing developers in the District are on the verge of collapse. Now, lawmakers say it’s time to crack down on one of the key factors at the root of the problem: tenants not paying their rent.

According to insiders, affordable housing properties in Washington, D.C., could face closures in the coming months, potentially leaving thousands of residents without a home. This looming crisis has largely flown under the radar.

For-profit developers of affordable housing in D.C. are nearing collapse.

LOL....Laughs in Marian Barry Blvd.....You didn't have to be a wizard to have seen this coming.


Let me tell you what happens when The Poors can't pay in DC.

They get kicked out to MD and into PG county.

Then developers buy the land and build $2M condos. Its a story as old as time there.

The second The Poors can't pay, DC forecloses and BOOM, a developer buys the land and up go massive condos.

I guess the likes of Blackrock will roll in a "relieve" them of their burden.....Likely the plan all along.

Then how do the Poors pay rent in PG county?

 

[Lisa558]

Relief is on the way for the District of Columbia. After President Trump assumes office, expect that a lot of government agencies will be moved out of the area, giving some space for those who stay in the capital.

Most of those empty buildings (they’re mostly empty now anyway) can be converted into Single Occupancy residences for poor singles, and larger units (.just knock down the walls between two offices) for the single mothers and their kids.

They can also dedicate some buildings to working class families - combine three offices.

On top of that, the government can operate a lot cheaper by having its operations in cheaper areas. No need to have everyone in one of the most expensive areas in the country now that we have email and Zoom meetings.

 

[Lisa558]

Polishprince

I once stayed in the Holiday Inn directly across from a gigantic federal office building in DC - I think it was Dept of Ed - and starting around 8:30a.m., i saw no more than 10 people go in over the next hour.

At 5 pm, I noticed the same number walk out.

I would estimate that fewer than 10% of employees were in the office. No reason for taxpayers to have big property expenses PLUS pay the GS schedule differential because the employees live in a high COLA when they could be telecommuting from anywhere.

Trump of course could not accomplish such a move in four years, but it could be done in 12. We need Republicans in charge for that amount of time, at least.

 

[1srelluc]

Most of those empty buildings (they’re mostly empty now anyway) can be converted into Single Occupancy residences for poor singles, and larger units (.just knock down the walls between two offices) for the single mothers and their kids.

They can also dedicate some buildings to working class families - combine three offices.

On top of that, the government can operate a lot cheaper by having its operations in cheaper areas. No need to have everyone in one of the most expensive areas in the country now that we have email and Zoom meetings.

I'd sooner see the old-ass buildings torn down and more open space created.

Converting them for the "poor" is a 0-sum game.....The thrust should be getting shed of the poor (and their attendant crime).

 

[CrusaderFrank]

It's DC so I expect some Federal rent subsidy up next