Aug. 21 Newsletter: Why young people can't buy a house
Weather: Temperatures cool to the lower 80s, with evening storms a possibility.
On this date in 1948, the Selective Service changes its draft registration process to make things easier following World War II, switching to a postcard-sized form.
Data: Housing is more out of reach and homeownership is down for younger Richmonders
In a presentation to the Virginia Housing Commission Tuesday, demographer Hamilton Lombard offered some sobering statistics about workers aged 25 to 44 and their ability to buy a home.
- After adjusting for inflation, the median home value rose close to three times faster than earnings for younger adults between 2014 and 2024.
- Richmond saw an increase of 10,500 residents with remote jobs tied to the Washington, D.C. area between 2019 and 2023, people who may arrive with more equity.
- Across both Virginia and the U.S., data show older residents largely aren’t moving — and if they do move, they aren’t downsizing.
Lombard said that while young people are earning more than ever before, a large share are still living with their parents. Read more here.
State didn't send enough funds for nullified redistricting vote, leaving Richmond $375K short
Richmond officials had to spend almost $375,000 in local tax dollars to run an unplanned election that didn’t count.
The Richmonder reached out to multiple officials over several weeks to ask how the city handled the situation, but the city has not yet provided a full explanation. Read more here.
Conversion of 95-year-old Virginia Home in Byrd Park to apartments gets thumbs-up from Planning Commission
The facility is relocating to Hanover County, and a plan to repurpose the building got unanimous support from Richmond’s Planning Commission Tuesday, though neighbors expressed concerns about parking and traffic.
“I think it is an attractive, iconic building that is worth saving. It is historic,” said Commissioner Brian White. Read more here.
Entering its fifth year, Run Richmond 16.19 invites participants to reflect on the city’s slave-trading past
Run Richmond 16.19 began as the brainchild of actor Djimon Honsou, and will mark its fifth running on September 12.
The route will include information on relevant historical sites, as well as educational events scattered throughout the weekend. Read more here.
A new era for Richmond High School for the Arts begins with a $140M building. Take a look inside
The nearly 300,000-square-foot building, capable of holding just under 2,000 students, cost the division $150 million with the help of city’s meal tax.
Newer additions include a podcast studio, a weight room for athletes, a ballet and dance studio, and a childcare lab for children of students where students interested in early education can learn from preschool professionals. Read more, and see photos, here.
ALSO: Students at Northside elementary school get delayed start to school year due to mold in building
Nikkia Young keeps Richmond running
She is the Richmond Road Runners Club president, leading a 19-member board that oversees 17 races a year and boasts more than 2,200 members. The group will celebrate its 50th anniversary in 2028.
Young is driven not just to finish first, but to inspire others.
"I am a plus-sized Black woman. I do not look like a typical runner," she said. "I'm so glad I'm seeing more and more people that look like me out on the road now. But that wasn't always the case. Sometimes you have to be it in order for other people to see it.” Read more here.
In other news
- Richmond restaurant hit with erroneous $60K water bill (Axios Richmond)
- A city spokesperson said DPU doesn't comment on "specific customer billing concerns."
- Spanberger administration revokes Virginia youth psych facility's license, calls system ‘broken' (CBS 6)
- "We're talking about a for-profit company owned by private equity that was tasked with keeping kids safe."
- The Way of Water: The VMFA presents dual watercolor exhibitions (Style Weekly)
- VMFA exhibits its watercolors for a maximum of six months before “resting” the works in dark storage for at least two years.
The editor's desk
I certainly do not envy the young people searching for a house in this market. It's rough out there.
Michael Phillips, founder
mphillips@richmonder.org
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