Recession and DMV home prices

[Anonymous]

Anonymous wrote:The recession would have to be a very big one. Because there were no meaningful drop in real estate prices in our neighborhood during 2008 financial crisis.

Depends on what neighborhood in DMV. Some outside the beltway got pummeled.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The recession would have to be a very big one. Because there were no meaningful drop in real estate prices in our neighborhood during 2008 financial crisis.

Depends on what neighborhood in DMV. Some outside the beltway got pummeled.

Look at the public schools the homes feed into. The best ones keep their values.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The recession would have to be a very big one. Because there were no meaningful drop in real estate prices in our neighborhood during 2008 financial crisis.

Depends on what neighborhood in DMV. Some outside the beltway got pummeled.

Look at the public schools the homes feed into. The best ones keep their values.

Look at the upcoming boundary changes to make sure the public schools will remain the same. Also look at the declining enrollments in the better school areas. Lower performing kids could be transferred to these schools and they will get the teacher attention rather than the neighborhood kids.

[Anonymous]

Anonymous wrote:How is the anticipated recession next year going to impact the home prices in this area?

The homes north of 1.5 million will be hit the hardest. (A 25 percent decline of 2 million is a 400k loss..) The prices right now are inflated.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How is the anticipated recession next year going to impact the home prices in this area?

I know the answer.

I know the answer, thus, I’ve adjusted my financial position to return maximum monetary gains to exploit the anticipated “impact”.

Why should I tell you? I did the work. I know the answer.

I make no apologies. This is simply a case of finance and capitalism.

Sure, Jan.

No one knows the “answer” that’s right for everyone, but also no one “knows” there’s going to be a recession. There are a lot of factors currently propping up home prices other than the overall economy. They could stay level, they could decline slowly, or they could plunge or continue to increase (I find the latter two less likely, but we don’t really know.)

Also if you’re “returning maximum monetary gains” you’re also subject to risk, which means if you’re wrong you lose big time.

OP just do the normal. Save your money, watch prices/interest rates, know what you can afford, and when you find something you like that fits within your budget, go for it.

Gobsmacked by how obtuse some people are when it comes to humor.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How is the anticipated recession next year going to impact the home prices in this area?

I know the answer.

I know the answer, thus, I’ve adjusted my financial position to return maximum monetary gains to exploit the anticipated “impact”.

Why should I tell you? I did the work. I know the answer.

I make no apologies. This is simply a case of finance and capitalism.

Sure, Jan.

No one knows the “answer” that’s right for everyone, but also no one “knows” there’s going to be a recession. There are a lot of factors currently propping up home prices other than the overall economy. They could stay level, they could decline slowly, or they could plunge or continue to increase (I find the latter two less likely, but we don’t really know.)

Also if you’re “returning maximum monetary gains” you’re also subject to risk, which means if you’re wrong you lose big time.

OP just do the normal. Save your money, watch prices/interest rates, know what you can afford, and when you find something you like that fits within your budget, go for it.

Gobsmacked by how obtuse some people are when it comes to humor.

Lol ok, that was me. To be fair, I've reread it several times and I've seen things posted seriously that were that clueless before. I'm not known for lacking a sense of humor but apparejntly there is a first time for everything. Carry on....

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The recession would have to be a very big one. Because there were no meaningful drop in real estate prices in our neighborhood during 2008 financial crisis.

Depends on what neighborhood in DMV. Some outside the beltway got pummeled.

Look at the public schools the homes feed into. The best ones keep their values.

Will they still when all schools are equally bad?