Yglesias

The Inauguration Housing Bubble

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CREDIT:

It’s certainly true that talk of repeating a windfall by renting out your place for Inauguration Week is all the buzz in DC. But I haven’t seen any real verification of big money being found in this domain. An awful lot of people genuinely want to be out of town for the inauguration. And that, combined with the buzz about high prices, seems to me to have lifted the supply of housing sky-high reducing the margins available to most people. I clicked on the article because I saw a photo of someone I know, and the caption says “Katherine Mangu-Ward, one of many in Washington willing to rent their homes for the inauguration, has offered her one-bedroom apartment online for $1,000 a night.” But of course Katherine offering her apartment for $1,000 a night isn’t at all the same as someone offering to pay her $1,000 a night.

But if anyone feels like it, I’d gladly entertain an offer in that range.