Quarterback Matthew Abramson leads the Washington-Liberty offense (photo by Deb Kolt)
Arlington high schools have a much less busy week of sports action ahead because of the Thanksgiving holiday and the transition from the fall to the winter sports season.
But there is one big postseason region-tournament football game on tap for the Washington-Liberty Generals. There also will be a few preseason basketball and wrestling scrimmage events, and a girls ice-hockey match.
This regularly scheduled column is written by Eli Tucker, Arlington-based Realtor and Arlington resident. If you would like to work with Eli and his team in Northern Virginia and the greater D.C. Metro area, you can reach him directly at[email protected].
Question: How much of an impact do you think the ROAD to Housing Act will have on housing affordability in Arlington?
Answer: The Road to Housing Act became law ten days ago, with the stated goal of improving housing affordability in the United States.
I don’t see many policies in the Act that will improve affordability in the Arlington/Northern VA/DC Metro markets, outside of incentives for more affordable multi-family housing, but there are policies that should improve affordability in other markets that are more saturated with institutional investors that own swaths of single-family homes (e.g. Atlanta and Phoenix) and for manufactured/mobile homes.
The Local Conversation Needs to Change
If we are going to improve affordability in our market, most of the change has to be done locally/regionally, not nationally, but it requires a paradigm shift in how we discuss and solve for housing affordability.
Affordability Disconnect: Near Term Expectations Not Realistic
A disconnect between housing affordability expectations and reality prevents the right community and political conversations from happening. We expect/demand housing affordability immediately, ignoring the difficulty, and consequences, of achieving it that quickly.
Stable and healthy housing affordability is a long-term process requiring gradual change over a 10-15+ year period.
Demand-Side Solutions Won’t Work
Demand-side solutions, such as lower interest rates or easier financing, artificially inflate home values, as seen during the COVID-era housing boom and early 2000s. They are not a good long-term solution to affordability because they push values even higher (along with your property taxes) and affordability gets worse when rates/lending normalize and no longer provide artificially low monthly payments.
Supply-Side Solutions Are Not Immediate
Most policy discussions focus on supply-side solutions: building more/faster and denser housing (e.g. Arlington’s Missing Middle/Expanded Housing Option), incentivizing more existing home sales, or disincentivizing concentrated ownership by companies and individuals. Econ 101 tells us that more supply = lower prices = affordable housing (winner winner!).
This is the only path to stable, long-term housing affordability…BUT, at current interest rates, prices must drop 30-35% in the United States to become affordable, at current income levels. A 30-35% drop in home values would devastate the economy, so a supply-side solution won’t (shouldn’t) provide immediate affordability. (more…)
As the summer is winding down, Art House 7 is gearing up for August Classes! Offerings include painting, drawing, cartooning, mixed media, and printmaking. Some highlights: Animals of the Serengeti, k-2nd; Digital Art, 4th-6th grades; Painting Metal with Watercolor, Adults. Classes are 3-4 weeks: a short commitment for a lot of creative output. Check out everything on our website.
Founders Row II under construction (staff photo by Scott McCaffrey)
Redevelopment projects in Falls Church continue to roll along without any major setbacks or warning signs.
“Development interest in the city remains steady,” Paul Stoddard, Falls Church’s director of planning, told ARLnow. He said city officials were dealing with “the usual volume of calls exploring ideas for possible future applications.”
The suspect in the burglary of Dominion Wine and Beer (photo courtesy of Arash Tafakor)
An unusually determined suspect is accused of stealing about $3,000 worth of wine from a Falls Church store, after several hours of preparation.
The overnight intruder is believed to have smashed a window at Dominion Wine and Beer in Falls Church last week before cutting a hole in a wine cabinet and climbing through it to access the store, owner Arash Tafakor told ARLnow.
Hunan Gate's previous exterior in Ballston (staff photo by Katie Taranto)
A long-time, family-owned Chinese restaurant in Ballston has announced plans to close after four decades of business, leaving its location to a West Coast-based gym chain.
Hunan Gate Restaurant will close next month, the restaurant announced in a storefront message at 4322 Fairfax Drive, near the Ballston Metro station. The owners expressed gratitude and said the restaurant will be selling all its equipment.
Arlington Treasurer Carla de la Pava (via Arlington County/YouTube)
The increasing cost of vehicles was a key driver in Arlington’s tax-delinquency rate showing a rare year-over-year uptick in new data.
“Many people do not contemplate the annual tax consequences” of vehicle ownership, county Treasurer Carla de la Pava said in a Tuesday briefing to the Arlington County Board.
Clients line up outside the Arlington Food Assistance Center in Green Valley, Nov. 2024 (staff photo by James Jarvis)
After years of working to expand access to food aid, Arlington County’s food assistance infrastructure is being stretched to its limits as rising living costs drive up demand.
Food insecurity isnothing new to Arlington, and neither are private and publicinitiatives to combat it. In recent years, the county has hired a food insecurity coordinator and ramped up efforts to connect residents with existing resources.