Why buying a home is out of reach for many millennials in the Greater Washington region
Despite a continuously growing population and relatively strong economy, one writer explores why it remains so difficult for workers – particularly millennial workers – to afford homeownership in the Greater Washington region. (WaPo, 1/4)
In the Washington region, officials are always lobbying to bring large companies and their workforce to the area — often with great success — leaving us in what seems like a regular housing shortage and subsequently an overwhelmed infrastructure that hasn’t been adequate for our population since the early 1980s. On top of that, I can rattle off the names of 10 large universities in the area that supply a huge 20-something-year-old population year after year — many of whom stay put after graduation and get apartments. Oh, I haven’t even mentioned the federal government or the military, which, as everyone knows, is a huge and stable (sans a government shutdown) slice of the workforce.
So that means we need housing — lots of housing. But the influx of new construction has not led to a great rise in the home ownership rate in Washington. So what gives?
VIRGINIA | Alison Silberberg will be sworn in as the new mayor of Alexandria with plans to limit development in the jurisdiction. (WaPo, 1/3)
– A new primary care office in D.C. aims to offer its patients dietary prescriptions in place of medication to cure what ails them. (WBJ, 12/2015)
– 2016 is gearing up to be an exciting year for museums in the city. Check out what’s on the horizon for the new year. (WaPo, 12, 2015)
– With millennial philanthropy money flowing, arts groups miss out (Seattle Times, 12, 2015)
WORKFORCE | As we usher in a new year, more than a dozen states will also be ushering in higher minimum wages. Advocates and skeptics alike will be on the lookout for how the changes affect workers. (Atlantic, 1/1)
Though 2015 is long gone, take this quiz to test your knowledge of the year in D.C.