In recent years, the region's economy has created jobs and higher incomes at a stunning pace. This growth has drawn many new residents to the region, such that we are now growing by almost 50,000 people a year. Unfortunately, the region's housing supply has not kept pace with surging demand. This has pushed up rental costs and led many landlords to opt out of federal mortgage insurance that requires them to offer lower rents to low income families. It's becoming harder for a family to buy a house, too.
Families struggle as they have to spend an ever-increasing portion of their income on housing.
COG Board Chairman and D.C. Councilmember Carol Schwartz has made housing in the Washington region her top priority this year. She has directed COG staff to develop a set of strategies to address the regional affordable housing shortage. In addition, the COG-affiliated Washington Area Housing Partnership hosted a conference on housing on March 23 at the National Press Club. The Conference examined the cost of continuing housing shortages on the region's long-term growth. Join me on Metro Talk the first Sunday of each month for an update on regional issues like transportation, business, the environment, public safety and human services.