Currently, it costs a lot of money to buy a house around the D.C. region. Rising interest rates only make it harder, in part, because there鈥檚 just not much inventory. Rents keep climbing, too.
It’s led local leaders to talk with more urgency about the need for more affordable housing.
鈥淭here鈥檚 24,000 affordable units that are either under construction or in the pipeline,鈥� D.C. Deputy Mayor for Economic Development John Falcicchio said.
鈥淭he District of Columbia represents 700,000 residents in a region of 6 million,鈥� he said at a news conference touting new development in Anacostia.
鈥淯nbelievably, there鈥檚 12,000 of those units right here in Washington, D.C.,鈥� he said. 鈥淪o what we鈥檙e calling on, and what Mayor (Muriel) Bowser has long called on, is for the rest of the region to put as much emphasis on affordable housing creation 鈥� That鈥檚 how we create housing affordability.鈥�
He said D.C. is pushing the Metropolitan Washington Council of Governments to press every jurisdiction in the association to adopt a goal to build more affordable housing and then follow through on it.
鈥淚 don鈥檛 want to make everything competitive, but this is a good thing to compete about,鈥� Falcicchio said. “How do we deliver more affordable housing so that we deliver housing affordability for all of our residents?鈥�
While he praised the Bowser administration鈥檚 efforts on affordable housing, he also said, 鈥淚 know that we can do more.鈥�
His call to the rest of the region was to view the problem the same way.
鈥淪tep it up,鈥� Falcicchio said. 鈥淪tep it up and make sure that we all deliver on housing and affordable housing, as well.鈥�
