D.C. home prices reach record high

[Anonymous]

D.C. home prices reach record high
http://washingtonexaminer.com/d.c.-home-prices-reach-record-high/article/2504918#.UCr4pETgK9Y

Home prices in D.C. reached a record high in July, surpassing the boom of 2005 and making it the third jurisdiction in the Washington region to hit a record this summer, new data show.

Prices in the region's core -- D.C., Arlington and Alexandria -- all topped highs set by the housing boom in the 2000s. Median home sales in the District reached $457,500 in July, beating the previous high of $450,000 in November 2005. Arlington prices soared to $550,000 last month, beating the median $525,000 set six years earlier, and Alexandria surpassed its former high when prices reached $500,000 this May.

Montgomery, Fairfax, Prince William and Loudoun counties are all closing in on their housing-boom peaks, with all but Prince William reaching median prices of more than $400,000 this summer. Meanwhile, Prince George's County has lagged behind in its recovery, with prices just $22,000 above its bottom.

It looks like the 600 billion dollar stimulus worked. Thank you, Team Obama! Thank you!

Housing prices are a bit different out there in fly-over country...

[Anonymous]

Anonymous wrote:


Housing prices are a bit different out there in fly-over country...

No kidding. Disgusting.

[Anonymous]

I would not buy in the DC area as this is a bubble. There are only so many people willing and/or able to buy a $457,000 house. No matter how many lawyers, doctors, etc. you know, it is still a finite amount of individuals.

The problem is, everywhere in the US where there are jobs, housing is unaffordable and everywhere housing is affordable, there are no jobs.

[Anonymous]

How true.

And what if there are huge layoffs at DOJ and many other agencies after the election (which will probably happen in either an Obama or Romney admin.). What if a new health care plan results in lower profits for doctors? And the trust fund babies would take a general hit in that case, too. The DC housing market is a bubble just waiting to burst.

People buying houses now at these prices are extremely naive.

[Anonymous]

Really - naive. They've always said that the prices here are too high. You're just mad you missed the boat. I would buy in DC in a minute if I didn't already own a home here.

[Anonymous]

Anonymous wrote:Really - naive. They've always said that the prices here are too high. You're just mad you missed the boat. I would buy in DC in a minute if I didn't already own a home here.

I think that there was a long stagnant period for real estate in the 80's through the early 90's here. I'm sure of it in commercial and I am betting the same was true for residential. So when you say "always" beware that your memory may not be as long as it needs to be.

[Anonymous]

Anonymous wrote:Really - naive. They've always said that the prices here are too high. You're just mad you missed the boat. I would buy in DC in a minute if I didn't already own a home here.

NY suburbs late 1980s - housing took a big hit
NY suburbs 2008-12 - some places still going down

If it can happen there it can happen here.

[Anonymous]

DC metro prices have been sky high because DC is where the jobs are. The money holding together the US government and all its agencies and obligations is GONE. How can the current real estate market stay so high? It CAN'T. The government can't afford to continue the current farce.

I very much look forward to buying after the DC real estate market tanks.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Really - naive. They've always said that the prices here are too high. You're just mad you missed the boat. I would buy in DC in a minute if I didn't already own a home here.

I think that there was a long stagnant period for real estate in the 80's through the early 90's here. I'm sure of it in commercial and I am betting the same was true for residential. So when you say "always" beware that your memory may not be as long as it needs to be.

I was here then and I remember. I also know that DC did not offer NEARLY as much then as it does now. The city is completely different. You were really taking a chance by moving into the District. U Street was JUST getting rebuilt. Shaw was a mess! I lived on 5th and NY Ave, NW - there were still shooting. Now there is a Safeway and a Busboys and Poets. It's like comparing apples to oranges.

[Anonymous]

D.C. home prices reach record high
http://washingtonexaminer.com/d.c.-home-prices-rea...h/article/2504918#.UCr4pETgK9Y

Home prices in D.C. reached a record high in July, surpassing the boom of 2005 and making it the third jurisdiction in the Washington region to hit a record this summer, new data show.

Prices in the region's core -- D.C., Arlington and Alexandria -- all topped highs set by the housing boom in the 2000s. Median home sales in the District reached $457,500 in July, beating the previous high of $450,000 in November 2005. Arlington prices soared to $550,000 last month, beating the median $525,000 set six years earlier, and Alexandria surpassed its former high when prices reached $500,000 this May.

Montgomery, Fairfax, Prince William and Loudoun counties are all closing in on their housing-boom peaks, with all but Prince William reaching median prices of more than $400,000 this summer. Meanwhile, Prince George's County has lagged behind in its recovery, with prices just $22,000 above its bottom.


It looks like the 600 billion dollar stimulus worked. Thank you, Team Obama! Thank you!

Housing prices are a bit different out there in fly-over country...

Fly-over country is turning into dry up country. Luckily the Republicans are against government welfare. No drought relief for fly-over country. Good luck out there.

[Anonymous]

Here's a choice area of Bethesda. Look at the graph--2004 prices are sneaking in within yearly volatility. A smart buyer would wait for more dips.

But, gosh, guess I'm just naive.

[Anonymous]

Sorry--here's the chart

Here's a choice area of Bethesda. Look at the graph--2004 and 2003 prices are sneaking in within yearly volatility. A smart buyer would wait for more dips.

But, gosh, guess I'm just naive.

http://www.trulia.com/real_estate/20814-Bethesda/market-trends/

[Anonymous]

Anonymous wrote:DC metro prices have been sky high because DC is where the jobs are. The money holding together the US government and all its agencies and obligations is GONE. How can the current real estate market stay so high? It CAN'T. The government can't afford to continue the current farce.

I very much look forward to buying after the DC real estate market tanks.

Whatever, Springfield resident. None of us believe your conservative self would ever have a District of Columbia address.