Moco - no appreciation in the last 10 years

[Anonymous]

Anonymous wrote:i sort of agree, but my property taxes have gone up like 35%+ since we bought 10 years ago

If your property taxes have gone up, it's because your assessed property value has gone up.

[Anonymous]

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Anonymous wrote:As a homeowner in Bethesda, i was looking through the data and was shocked at the fact that RE prices in this area are basically flat since 2008-2009 and even lower than the peak in 2005-2006. It looks like it’s not even keeping up with inflation. Meanwhile prices in Arlington and Fairfax have gone up by 40-50% over the same period. We are moderately well off but not rich by any means but this adds up to hundreds of thousands of dollars of home equity. I never expected the gap to be so large. We love our neighborhood and our commute to DC is pleasant but I can’t help but being slightly jealous.

There has been appreciation in the last five to six years because prices dropped from the peak. What you’re complaining about is that prices haven’t exceeded the bubble prices. That would not be a particularly good thing if they did.

We are way past bubble prices in NOVA, and there's no sign of letting up. I am surprised to hear that prices are flat in Bethesda. That doesn't seem true to me.

Which means you’ll have another massive crash when the next recession hits. NOVA was devastated in the last one.

NOVA was most certainly not devastated in the last housing crash (at least no more so than any other area in the close-in DMV. And it recovered rapidly. You have no idea what you're talking about.

NOVA is pretty big. Manassas was down huge. Arlington not so much. Where do you fall?

I bought in 2009 in NOVA and prices were 40% below peak.

I refer you to this document, look at the chart at the bottom of the last page. Almost all of Fairfax was down around 40% and PWC/Manassas as you mention was down something like 60-70%.

http://cra.gmu.edu/pdfs/studies_reports_presentations/The_Northern_Virginia_Housing_Market_Like_No_Other.pdf

Arlington stagnated and was dropping about 1% a year so maybe you think Arlington is “NoVa”? I watched the statistics monthly and yes NOVA was down big.

The whole country was hit hard. PWC and Manassas are not close-in DMV. From the article you posted: "The bust period was deep but swift, and the recovery started sooner in Northern Virginia than in most other places in the country."

Not sure what your point is. That prices went down during the housing bust? Seems obvious enough, but okay, yes, I agree. The housing market in close-in NOVA proved to be more resilient than just about anywhere else in the country, and with two of the country's biggest employers in town---the USG and now Amazon---close-in NOVA is about as close to a sure bet as you're going to get.

You don’t k ow what my point is? I said NOVA was devastated by the crash and someone here disagreed. I provided proof it was hit hard, that’s the point.

And now with NOVA exceeding bubble pricing again, they next recession will hit NOVA even harder.

[Anonymous]

Anonymous wrote:

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Anonymous wrote:As a homeowner in Bethesda, i was looking through the data and was shocked at the fact that RE prices in this area are basically flat since 2008-2009 and even lower than the peak in 2005-2006. It looks like it’s not even keeping up with inflation. Meanwhile prices in Arlington and Fairfax have gone up by 40-50% over the same period. We are moderately well off but not rich by any means but this adds up to hundreds of thousands of dollars of home equity. I never expected the gap to be so large. We love our neighborhood and our commute to DC is pleasant but I can’t help but being slightly jealous.

There has been appreciation in the last five to six years because prices dropped from the peak. What you’re complaining about is that prices haven’t exceeded the bubble prices. That would not be a particularly good thing if they did.

We are way past bubble prices in NOVA, and there's no sign of letting up. I am surprised to hear that prices are flat in Bethesda. That doesn't seem true to me.

Which means you’ll have another massive crash when the next recession hits. NOVA was devastated in the last one.

NOVA was most certainly not devastated in the last housing crash (at least no more so than any other area in the close-in DMV. And it recovered rapidly. You have no idea what you're talking about.

NOVA is pretty big. Manassas was down huge. Arlington not so much. Where do you fall?

I bought in 2009 in NOVA and prices were 40% below peak.

I refer you to this document, look at the chart at the bottom of the last page. Almost all of Fairfax was down around 40% and PWC/Manassas as you mention was down something like 60-70%.

http://cra.gmu.edu/pdfs/studies_reports_presentations/The_Northern_Virginia_Housing_Market_Like_No_Other.pdf

Arlington stagnated and was dropping about 1% a year so maybe you think Arlington is “NoVa”? I watched the statistics monthly and yes NOVA was down big.

The whole country was hit hard. PWC and Manassas are not close-in DMV. From the article you posted: "The bust period was deep but swift, and the recovery started sooner in Northern Virginia than in most other places in the country."

Not sure what your point is. That prices went down during the housing bust? Seems obvious enough, but okay, yes, I agree. The housing market in close-in NOVA proved to be more resilient than just about anywhere else in the country, and with two of the country's biggest employers in town---the USG and now Amazon---close-in NOVA is about as close to a sure bet as you're going to get.

You don’t k ow what my point is? I said NOVA was devastated by the crash and someone here disagreed. I provided proof it was hit hard, that’s the point.

And now with NOVA exceeding bubble pricing again, they next recession will hit NOVA even harder.

Here, I've improved your statement: Anywhere in the US was devastated by the crash. You can fill in any city you like in the underlined. Pointless.

[Anonymous]

MC is and will always lag Fairfax/Arlington and even Loudoun counties in RE demand....

[Anonymous]

Anonymous wrote:

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Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a homeowner in Bethesda, i was looking through the data and was shocked at the fact that RE prices in this area are basically flat since 2008-2009 and even lower than the peak in 2005-2006. It looks like it’s not even keeping up with inflation. Meanwhile prices in Arlington and Fairfax have gone up by 40-50% over the same period. We are moderately well off but not rich by any means but this adds up to hundreds of thousands of dollars of home equity. I never expected the gap to be so large. We love our neighborhood and our commute to DC is pleasant but I can’t help but being slightly jealous.

There has been appreciation in the last five to six years because prices dropped from the peak. What you’re complaining about is that prices haven’t exceeded the bubble prices. That would not be a particularly good thing if they did.

We are way past bubble prices in NOVA, and there's no sign of letting up. I am surprised to hear that prices are flat in Bethesda. That doesn't seem true to me.

Which means you’ll have another massive crash when the next recession hits. NOVA was devastated in the last one.

NOVA was most certainly not devastated in the last housing crash (at least no more so than any other area in the close-in DMV. And it recovered rapidly. You have no idea what you're talking about.

NOVA is pretty big. Manassas was down huge. Arlington not so much. Where do you fall?

I bought in 2009 in NOVA and prices were 40% below peak.

I refer you to this document, look at the chart at the bottom of the last page. Almost all of Fairfax was down around 40% and PWC/Manassas as you mention was down something like 60-70%.

http://cra.gmu.edu/pdfs/studies_reports_presentations/The_Northern_Virginia_Housing_Market_Like_No_Other.pdf

Arlington stagnated and was dropping about 1% a year so maybe you think Arlington is “NoVa”? I watched the statistics monthly and yes NOVA was down big.

The whole country was hit hard. PWC and Manassas are not close-in DMV. From the article you posted: "The bust period was deep but swift, and the recovery started sooner in Northern Virginia than in most other places in the country."

Not sure what your point is. That prices went down during the housing bust? Seems obvious enough, but okay, yes, I agree. The housing market in close-in NOVA proved to be more resilient than just about anywhere else in the country, and with two of the country's biggest employers in town---the USG and now Amazon---close-in NOVA is about as close to a sure bet as you're going to get.

You don’t k ow what my point is? I said NOVA was devastated by the crash and someone here disagreed. I provided proof it was hit hard, that’s the point.

And now with NOVA exceeding bubble pricing again, they next recession will hit NOVA even harder.

Here, I've improved your statement: Anywhere in the US was devastated by the crash. You can fill in any city you like in the underlined. Pointless.

And now that NOVA has exceeded bubble levels, the next crash will hit it worse than MoCo as more people will be underwater.

[Anonymous]

When part of montgomery county borders DC, and part of it is Clarksburg, statements the purport describe all of MoCo in one statement are idiotic.

[Anonymous]

Anonymous wrote:OP is a NoVA troll. Prices have not been flat for 10 years. It may not climb as fast as Arlington, but in no way is it flat.

This. Our house in eastern "affordable" MoCo has appreciated in he past few years.

[Anonymous]

Non-appreciation is a good thing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a homeowner in Bethesda, i was looking through the data and was shocked at the fact that RE prices in this area are basically flat since 2008-2009 and even lower than the peak in 2005-2006. It looks like it’s not even keeping up with inflation. Meanwhile prices in Arlington and Fairfax have gone up by 40-50% over the same period. We are moderately well off but not rich by any means but this adds up to hundreds of thousands of dollars of home equity. I never expected the gap to be so large. We love our neighborhood and our commute to DC is pleasant but I can’t help but being slightly jealous.

There has been appreciation in the last five to six years because prices dropped from the peak. What you’re complaining about is that prices haven’t exceeded the bubble prices. That would not be a particularly good thing if they did.

We are way past bubble prices in NOVA, and there's no sign of letting up. I am surprised to hear that prices are flat in Bethesda. That doesn't seem true to me.

Which means you’ll have another massive crash when the next recession hits. NOVA was devastated in the last one.

NOVA was most certainly not devastated in the last housing crash (at least no more so than any other area in the close-in DMV. And it recovered rapidly. You have no idea what you're talking about.

NOVA is pretty big. Manassas was down huge. Arlington not so much. Where do you fall?

I bought in 2009 in NOVA and prices were 40% below peak.

I refer you to this document, look at the chart at the bottom of the last page. Almost all of Fairfax was down around 40% and PWC/Manassas as you mention was down something like 60-70%.

http://cra.gmu.edu/pdfs/studies_reports_presentations/The_Northern_Virginia_Housing_Market_Like_No_Other.pdf

Arlington stagnated and was dropping about 1% a year so maybe you think Arlington is “NoVa”? I watched the statistics monthly and yes NOVA was down big.

The whole country was hit hard. PWC and Manassas are not close-in DMV. From the article you posted: "The bust period was deep but swift, and the recovery started sooner in Northern Virginia than in most other places in the country."

Not sure what your point is. That prices went down during the housing bust? Seems obvious enough, but okay, yes, I agree. The housing market in close-in NOVA proved to be more resilient than just about anywhere else in the country, and with two of the country's biggest employers in town---the USG and now Amazon---close-in NOVA is about as close to a sure bet as you're going to get.

You don’t k ow what my point is? I said NOVA was devastated by the crash and someone here disagreed. I provided proof it was hit hard, that’s the point.

And now with NOVA exceeding bubble pricing again, they next recession will hit NOVA even harder.

Here, I've improved your statement: Anywhere in the US was devastated by the crash. You can fill in any city you like in the underlined. Pointless.

And now that NOVA has exceeded bubble levels, the next crash will hit it worse than MoCo as more people will be underwater.

You're not a real estate investor, are you?

[Anonymous]

Anonymous wrote:Non-appreciation is a good thing.

Said no investor ever.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Non-appreciation is a good thing.

Said no investor ever.

Most people aren't real estate investors.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a homeowner in Bethesda, i was looking through the data and was shocked at the fact that RE prices in this area are basically flat since 2008-2009 and even lower than the peak in 2005-2006. It looks like it’s not even keeping up with inflation. Meanwhile prices in Arlington and Fairfax have gone up by 40-50% over the same period. We are moderately well off but not rich by any means but this adds up to hundreds of thousands of dollars of home equity. I never expected the gap to be so large. We love our neighborhood and our commute to DC is pleasant but I can’t help but being slightly jealous.

There has been appreciation in the last five to six years because prices dropped from the peak. What you’re complaining about is that prices haven’t exceeded the bubble prices. That would not be a particularly good thing if they did.

We are way past bubble prices in NOVA, and there's no sign of letting up. I am surprised to hear that prices are flat in Bethesda. That doesn't seem true to me.

Which means you’ll have another massive crash when the next recession hits. NOVA was devastated in the last one.

NOVA was most certainly not devastated in the last housing crash (at least no more so than any other area in the close-in DMV. And it recovered rapidly. You have no idea what you're talking about.

Depends on the where. Places like Stafford and Gainesville got hit really bad and are still barely breaking even. Places like Arlington and Alexandria, though, weren’t hit nearly as bad.

correct. that's why when someone talks about "NOVA", it's actually important to unpack that and get to the details. It would be like anyone saying "MD is so cheap compared to SFH on the Orange Line". Makes no sense to paint with such a broad brush.

Bob Ross is rolling in his grave, RIP.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Non-appreciation is a good thing.

Said no investor ever.

Most people aren't real estate investors.

People with children often LOSE money with rising prices.

Lets say I bought a home for 500K and 30 years later worth 1.5 million. My three kids are now in the market for home as newly married or about to marry.

Well if prices rose it would cost each kid 1.5 million to buy a home near mom and dad. Or 4.5 million.

If prices were flat it would cost three kids 500K each or 1.5 million.

Clearly the million dollar gain for Mom and Dad costs their kids three million.

In reality the kids cant afford those homes so they move elsewhere.


When I lived in Long Island towns like Garden City Great Neck and Manhasset which had very large price increases over last 30 years and empty nestors are stuck with sky high property taxes and all their kids forced to move away.

Other more blue collar towns like Island Park, Oceanside, East Rockaway saw way less price growth over 30 years, empty nestors had lower property taxes and their kids can afford homes near Mom and Dad.

Prices rising too rapidly forces all kids to move as cant afford a home in area when they move out and forces retired folks out as they may have a lot of equity but cant afford the taxes.

[Anonymous]

Same Troll, different topic.

Give it up Maryland hater.

[Anonymous]

Anonymous wrote:Same Troll, different topic.

Give it up Maryland hater.

Why do you think OP is a troll? Seems like a legitimate question/post.