What is truly going on with the DC area real estate market, please explain?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:People don't talk about it but D.C. also handled Covid incredibly well. There are 10 testing centers within 5 miles of my home and at least 3 within walking distance. All free. All well done.

Vaccine distribution. Food distribution for the needy. Homeless put in hotels. Daily press briefings at the height. The city and the mayor cares about the residents and that's never been clearer (at least to me) than in this pandemic.

Compare DC to New York to realize how fortunate we have been during the pandemic.
Much smaller city, but people who put the city above politics.

Are we living in the same city? In my part of town violent crime is through the roof and the homeless encampments are growing daily. Vaccine distribution has been a farce at best.

My friends complain of the same thing but they bought in a dicey ‘transitioning’ neighborhood. I personally have been sailing through Covid in a oasis. Peace of mind was worth the extra $$ for me.

[Anonymous]

I love it. Started loading up on property around 2010, and now I own 5 sfh’s that I got cheap, 4 townhomes around Shaw that I got for pennies, and two 4 units. People hate on white gentrifiers for many good reasons, but I’d like to say thank you to all the white gentrifiers for helping to make this black guy a rich, rich man. Have a blessed weekend!!!

[Anonymous]

Anonymous wrote:Basically lawyers, lobbyists, consultants are doing well while the middle class is completely hollowed out in this country, so places like DC are exploding while places with more blue collar jobs like say Baltimore or St Louis etc are doing terrible. The other symptom of this is that rents are stagnant while property values in places with white collar jobs explode. Couple this with low interest rates, and this discrepancy is really getting quite pronounced. As to where things go next? It’s anyone’s guess but I see the trend continuing for a while.

The two biggest wild card factors in my mind that could put a damper in the trend in my kind are taxes and interest rates. If rates really blow out this could put a damper in demand. If taxes really ramp up on high earners in the 200-1mm range this could also put a damper on demand.

The other wild card factor worth mentioning is that if this economic recovery really stalls and we do start to see job loss trickle into the white collar sphere, that could be bad for dc real estate prices.

We will see what happens. It’s always interesting in markets.

I don't see the increased tax burden as being significant to the 400k to 2 million crowd. They will pay more but not so much that it impacts a home purchase. Otherwise I doubt it will pass. If it does, republicans take the house in 2022. There is a fine line and Biden seems to know what he is doing. My money is on Biden to get it right.

[Anonymous]

Market correction will happen soon due to rising interest rates.

[Anonymous]

Anonymous wrote:Market correction will happen soon due to rising interest rates.

You’re going to be on your knees crying at the sky when rates go to zero and real estate remains like this for the next few years.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Market correction will happen soon due to rising interest rates.

You’re going to be on your knees crying at the sky when rates go to zero and real estate remains like this for the next few years.

Nah, they'll be so priced out they're looking in Fredericksburg and complaining about their 4-hour commute

[Anonymous]

Anonymous wrote:I love it. Started loading up on property around 2010, and now I own 5 sfh’s that I got cheap, 4 townhomes around Shaw that I got for pennies, and two 4 units. People hate on white gentrifiers for many good reasons, but I’d like to say thank you to all the white gentrifiers for helping to make this black guy a rich, rich man. Have a blessed weekend!!!

We love rich people of all colors who can hustle. Good for you PP, earn that $$!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:People don't talk about it but D.C. also handled Covid incredibly well. There are 10 testing centers within 5 miles of my home and at least 3 within walking distance. All free. All well done.

Vaccine distribution. Food distribution for the needy. Homeless put in hotels. Daily press briefings at the height. The city and the mayor cares about the residents and that's never been clearer (at least to me) than in this pandemic.

Compare DC to New York to realize how fortunate we have been during the pandemic.
Much smaller city, but people who put the city above politics.

Are we living in the same city? In my part of town violent crime is through the roof and the homeless encampments are growing daily. Vaccine distribution has been a farce at best.

My friends complain of the same thing but they bought in a dicey ‘transitioning’ neighborhood. I personally have been sailing through Covid in a oasis. Peace of mind was worth the extra $$ for me.

Yeah; I don't see much of a change where I am; except more kids who play on the streets. WOTP NW DC seems pretty fine.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I love it. Started loading up on property around 2010, and now I own 5 sfh’s that I got cheap, 4 townhomes around Shaw that I got for pennies, and two 4 units. People hate on white gentrifiers for many good reasons, but I’d like to say thank you to all the white gentrifiers for helping to make this black guy a rich, rich man. Have a blessed weekend!!!

We love rich people of all colors who can hustle. Good for you PP, earn that $$!

True that. Get that money.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I love it. Started loading up on property around 2010, and now I own 5 sfh’s that I got cheap, 4 townhomes around Shaw that I got for pennies, and two 4 units. People hate on white gentrifiers for many good reasons, but I’d like to say thank you to all the white gentrifiers for helping to make this black guy a rich, rich man. Have a blessed weekend!!!

We love rich people of all colors who can hustle. Good for you PP, earn that $$!

True that. Get that money.

Especially that white money.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:People don't talk about it but D.C. also handled Covid incredibly well. There are 10 testing centers within 5 miles of my home and at least 3 within walking distance. All free. All well done.

Vaccine distribution. Food distribution for the needy. Homeless put in hotels. Daily press briefings at the height. The city and the mayor cares about the residents and that's never been clearer (at least to me) than in this pandemic.

Compare DC to New York to realize how fortunate we have been during the pandemic.
Much smaller city, but people who put the city above politics.

Are we living in the same city? In my part of town violent crime is through the roof and the homeless encampments are growing daily. Vaccine distribution has been a farce at best.

My friends complain of the same thing but they bought in a dicey ‘transitioning’ neighborhood. I personally have been sailing through Covid in a oasis. Peace of mind was worth the extra $$ for me.

Capitol Hill is not a dicey, transitioning neighborhood.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:People don't talk about it but D.C. also handled Covid incredibly well. There are 10 testing centers within 5 miles of my home and at least 3 within walking distance. All free. All well done.

Vaccine distribution. Food distribution for the needy. Homeless put in hotels. Daily press briefings at the height. The city and the mayor cares about the residents and that's never been clearer (at least to me) than in this pandemic.

Compare DC to New York to realize how fortunate we have been during the pandemic.
Much smaller city, but people who put the city above politics.

Are we living in the same city? In my part of town violent crime is through the roof and the homeless encampments are growing daily. Vaccine distribution has been a farce at best.

My friends complain of the same thing but they bought in a dicey ‘transitioning’ neighborhood. I personally have been sailing through Covid in a oasis. Peace of mind was worth the extra $$ for me.

Capitol Hill is not a dicey, transitioning neighborhood.

It is when you're on bordering neighborhoods or seedy streets.

People like to expand 'Capitol Hill' to far beyond its barriers when they know damned well-and-good they live in Kingman Park.

[Anonymous]

As someone who spent time in Navy Yard can I also add - those giant multi-story buildings are nice to live in but the surrounding streets are grimy as f and the size of the buildings throw everything into shadows/darkness - making it more dangerous looking than another D.C. neighborhood.

[Anonymous]

“With spring officially here, the busy season has officially begun for buying and selling homes. With that in mind, UrbanTurf looked at what we think will be the three metrics that will define the DC-area market in the coming months.”

https://dc.urbanturf.com/articles/blog/the-3-charts-that-will-define-the-spring-housing-market/18044?fbclid=IwAR1QleyRXjor2pNom_18JLFnET1g2dfchFNU-xroPAo-Dt_yxNcTFCDS-kM

[Anonymous]

Anonymous wrote:As someone who spent time in Navy Yard can I also add - those giant multi-story buildings are nice to live in but the surrounding streets are grimy as f and the size of the buildings throw everything into shadows/darkness - making it more dangerous looking than another D.C. neighborhood.

At least the building is going quickly without too many NIMBY complaints.