Cognitive Dissonance and the Future of the Washington, D.C. Rental Market
Why Renter Clients Select Residence Locations and Why It Will Change in the Future
Featuring Dr. Stephen Fuller and Guest Research Presenter Jack Kern
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May 19, 2015, 1:30 pm
Founders Hall, Room 111
3351 Fairfax Drive
Arlingon, VA 22201
Synopsis
Renters make seemingly odd choices when it comes to selecting a residence. In certain instances the choice of a residence should be based on location, affordability and other factors but in many instances renters select residences that are barely affordable, sacrificing potential savings that could be used later for a home purchase and instead paying a significant portion of their rent for a higher cost place to live. The purpose of this presentation is to examine how and where rental residences have formed over the past 25 years and why this cluster of rental housing choices has moved over time. The cost implication to the renter has created a new decision point, with the necessity to now recognize the tenure choice between commuting a greater distance to achieve a more efficient rental rate bypassing traditional employment center locations or look for a better discrete housing choice alternative.
Highlights
Coverage and discussion of the central theme of the Washington region as a rental destination
- Observations about each county and transportation corridors
- A long term trend view of development and transportation activities
- A forecast of future rental growth and demand throughout the region
Special thanks to Robert Kettler of the Kettler Companies for continuing support of the Kettler Scholar series, featuring important research and analysis in the Washington region.