Rents CAN go down, even in high-cost markets

MLewyn's picture

One common argument often used to frustrate infill development is that in high-cost markets, the law of supply and demand simply does not apply, and that new housing will somehow fail to increase rents.  But a recent Washington Post news story shows otherwise: in Washington, DC (undoubtedly a high-cost market) a recent construction boom has increased apartment inventory and caused rents to go down. 

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