Monday, December 23, 2013

Affordable Housing for Sale | $19,000 for DC condo

20 Chesapeake Street SE
#C-21
Washington, DC 20032

Go HERE for the full listing.

Excerpt:
***Reduce Price For Quick Sale.***Great location to shopping and close access to 295 & 495. Coop pays all utilities and taxes. A great opportunity to live in D.C. at a affordable price. MUST BE OWNER OCCUPIED. NO EXCEPTIONS! PROPERTY IN GOOD CONDITION. You can buy this unit for less than rent..
Also for sale in this building:

$25,000
540 square feet
1 bedroom & 1 bathroom

$25,000
600 square feet
1 bedroom & 1 bathroom

$25,000
600 square feet
1 bedroom & 1 bathroom

In case you were wondering these units are not for sale in some special "affordable" housing program. This is what the housing market (particularly the condo market) looks like in Ward 8. Yet, millions of dollars of  low-income tax credits and "affordable" housing dollars for rentals continue to pour into east of the river although the for sale market is already way below DC and regional home values. It seems  that D.C.'s solution to the west of the river affordability problem (which is very real) is to create more affordable housing where there is already plenty of affordable housing. What is needed in Ward 8 desperately are jobs and businesses.

You have to ask yourself, "Why send low-income and 'affordable' housing east of the river when it is needed west of the river most?"

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