Over the past few decades, we have seen the housing market experience many changes. The change that affects us is the continuously rising cost of homes and apartments. Throughout the nation, rent and mortgages are soaring to unbelievable heights, thus creating a class of people experiencing homelessness and unmanageable debt. Some of the most affordable homes happen to be in some of the most crime-ridden neighborhoods, that's seemingly unfair. There are many homes in distressed areas priced upwards of almost a million dollars. Meanwhile, you can get shot in front of your home. Therefore I believe that the stress of the high cost of housing and other necessities is directly contributing to the spike in crime in numerous cities and states.
Capitol Hill used to be one of the few neighborhoods with less crime. Nowadays, it's likely where a majority of the crimes occur. Other prominent neighborhoods like Georgetown and DuPont Circle have seen an alarming uptick in crime as well with homes priced closely to a million dollars and more which is a direct contradiction to the assumption that a higher-priced home is in a safer area. So how did this start to happen?
The disappearance of rent control.
Landlords can now charge the maximum rate for a property based on square footage and zip code. What's the reason for this? Probably many! But I've come to a likely possibility that when people purchase homes or rent homes and apartments with a government voucher, the landlord and the government win, and the tenant loses. The voucher covers a portion of the rent that the landlord receives and the government receives the property tax. This method hurts traditional homeowners and renters and suffocates any plans of saving.
When will we see relief in the housing market? When we demand rent control, we will see change. Until then, corporate interest will continue to be the matriarch of the housing market. As far as crime, we have to demand stronger sentencing for adults and juveniles to reclaim our once peaceful city.
Be safe and buy accordingly.
Source: OfficialKillMoeNews on IG