(Reason) Demand for housing in Washington, D.C., is going through the roof. Over a thousand people move to the nation's capital every month, driving up the cost of housing, and turning the city into a construction zone. Tower cranes rising high above the city streets have become so common, they're just part of the background.
But as fast as the cranes can rise, demand for housing has shot up even faster, making DC among the most expensive cities in the United States. With average home prices at $453 per square foot, it's every bit as expensive as New York City. And the struggles of one homebuilder shows just why the city's shortage looks to continue for a long time.