...But demand has shown no signs of slackening. And as long as there are
plenty of upper-income renters looking for apartments, there is little incentive
to build anything other than expensive units. As a result, there are in effect
two separate rental markets that are so far apart in price that they have little
impact on each other. In one extreme case, a glut of new luxury apartments in
Washington has pushed high-end rents down, even while midrange rents continue to rise.
. "Increasing the supply is not going to increase the number of
affordable units; that is a complete and utter fallacy," said Jaimie Ross, the
president of the Florida Housing Coalition "People say if there really was a
great need, the market would provide it;. the market would correct itself Well,
the market has never corrected itself and it's only getting worse ".
...Moving farther out is cheaper, but the cost savings on housing CAN BE Quickly wiped out by Transportation costs. A 2012 Study by the Center for Housing Policy found Miami That WAS the most expensive area in the Metropolitan Country WHEN HOUSING and Transportation costs Were combined.