Is there going to be panic selling?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My friend is panic selling. They are not feds but know the DC market will go down so they want to get the most amount out of their house.

Where will they go? Rent or move away from the area and abandon their jobs here?

It’s expensive to live in the DMV area. You can go to some red state and get a nice house for 250k. Crap schools probably but maybe you can help flip that state blue along with the other fired Feds fleeing the DC area

Nice house for 250k? Where, I mean which decade are you writing this from?

We live in a nice house in NJ that
cost $238,000 in 2024.

Where?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My friend is panic selling. They are not feds but know the DC market will go down so they want to get the most amount out of their house.

Where will they go? Rent or move away from the area and abandon their jobs here?

It’s expensive to live in the DMV area. You can go to some red state and get a nice house for 250k. Crap schools probably but maybe you can help flip that state blue along with the other fired Feds fleeing the DC area

Nice house for 250k? Where, I mean which decade are you writing this from?

We live in a nice house in NJ that
cost $238,000 in 2024.

Where?

NJ is big and includes rust belt and rural land. I am guessing Trenton or somewhere around Newark less savory parts or somewhere rural. Philly has a ton of properties under 300K, so does Baltimore, but you probably don't want to live anywhere there. And a "nice house" is a subjective opinion. You can get an SFH for under 300K in some quadrants of DC metro too, just a lot fewer of them than in around Baltimore, Philly, Trenton.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My friend is panic selling. They are not feds but know the DC market will go down so they want to get the most amount out of their house.

Where will they go? Rent or move away from the area and abandon their jobs here?

It’s expensive to live in the DMV area. You can go to some red state and get a nice house for 250k. Crap schools probably but maybe you can help flip that state blue along with the other fired Feds fleeing the DC area

Nice house for 250k? Where, I mean which decade are you writing this from?

We live in a nice house in NJ that
cost $238,000 in 2024.

Where?

Camden? PP never responded? I wonder why.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My friend is panic selling. They are not feds but know the DC market will go down so they want to get the most amount out of their house.

Where will they go? Rent or move away from the area and abandon their jobs here?

It’s expensive to live in the DMV area. You can go to some red state and get a nice house for 250k. Crap schools probably but maybe you can help flip that state blue along with the other fired Feds fleeing the DC area

In lots of flyover country, schools are actually comparable or much better than the best schools in the dc area. You just have to look in places that attract educated people like areas around major universities.

These places are not cheap. Most cities that had become sanctuaries for the yuppies fleeing HCOL metro areas are now no longer a bargain compared to DC, and some have similar prices in the neighborhoods you would want to live in coming from here.

+1 This is why I think many people in DC will stay put if they have a way to stay afloat. The mid-size cities with nice neighborhoods and good public schools are just as expensive as similar neighborhoods in the DC area since the pandemic.

This is so blatantly false. Just pull up the US News list of best high schools, and search for homes in those areas. They are nowhere close to DC prices, and you don't have to deal with awful commutes. What's actually surprising is how mediocre the public schools are in the DMV despite the wealth and education of the people who live here.

If you’re paying a higher interest rate on that cheaper house your housing price may still go up.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My friend is panic selling. They are not feds but know the DC market will go down so they want to get the most amount out of their house.

Where will they go? Rent or move away from the area and abandon their jobs here?

It’s expensive to live in the DMV area. You can go to some red state and get a nice house for 250k. Crap schools probably but maybe you can help flip that state blue along with the other fired Feds fleeing the DC area

In lots of flyover country, schools are actually comparable or much better than the best schools in the dc area. You just have to look in places that attract educated people like areas around major universities.

These places are not cheap. Most cities that had become sanctuaries for the yuppies fleeing HCOL metro areas are now no longer a bargain compared to DC, and some have similar prices in the neighborhoods you would want to live in coming from here.

This. Also if you want to be in a premium area, those are not cheap in any metro area with any type of jobs. Even Detroit has expensive suburbs.

+1 This is why I think many people in DC will stay put if they have a way to stay afloat. The mid-size cities with nice neighborhoods and good public schools are just as expensive as similar neighborhoods in the DC area since the pandemic.

This is so blatantly false. Just pull up the US News list of best high schools, and search for homes in those areas. They are nowhere close to DC prices, and you don't have to deal with awful commutes. What's actually surprising is how mediocre the public schools are in the DMV despite the wealth and education of the people who live here.

If you’re paying a higher interest rate on that cheaper house your housing price may still go up.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My friend is panic selling. They are not feds but know the DC market will go down so they want to get the most amount out of their house.

Where will they go? Rent or move away from the area and abandon their jobs here?

It’s expensive to live in the DMV area. You can go to some red state and get a nice house for 250k. Crap schools probably but maybe you can help flip that state blue along with the other fired Feds fleeing the DC area

In lots of flyover country, schools are actually comparable or much better than the best schools in the dc area. You just have to look in places that attract educated people like areas around major universities.

These places are not cheap. Most cities that had become sanctuaries for the yuppies fleeing HCOL metro areas are now no longer a bargain compared to DC, and some have similar prices in the neighborhoods you would want to live in coming from here.

+1 This is why I think many people in DC will stay put if they have a way to stay afloat. The mid-size cities with nice neighborhoods and good public schools are just as expensive as similar neighborhoods in the DC area since the pandemic.

This is so blatantly false. Just pull up the US News list of best high schools, and search for homes in those areas. They are nowhere close to DC prices, and you don't have to deal with awful commutes. What's actually surprising is how mediocre the public schools are in the DMV despite the wealth and education of the people who live here.

If you’re paying a higher interest rate on that cheaper house your housing price may still go up.

This. Also if you want to be in a premium area, those are not cheap in any metro area with any type of jobs. Even Detroit has expensive suburbs.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My friend is panic selling. They are not feds but know the DC market will go down so they want to get the most amount out of their house.

Where will they go? Rent or move away from the area and abandon their jobs here?

It’s expensive to live in the DMV area. You can go to some red state and get a nice house for 250k. Crap schools probably but maybe you can help flip that state blue along with the other fired Feds fleeing the DC area

In lots of flyover country, schools are actually comparable or much better than the best schools in the dc area. You just have to look in places that attract educated people like areas around major universities.

These places are not cheap. Most cities that had become sanctuaries for the yuppies fleeing HCOL metro areas are now no longer a bargain compared to DC, and some have similar prices in the neighborhoods you would want to live in coming from here.

+1 This is why I think many people in DC will stay put if they have a way to stay afloat. The mid-size cities with nice neighborhoods and good public schools are just as expensive as similar neighborhoods in the DC area since the pandemic.

This is so blatantly false. Just pull up the US News list of best high schools, and search for homes in those areas. They are nowhere close to DC prices, and you don't have to deal with awful commutes. What's actually surprising is how mediocre the public schools are in the DMV despite the wealth and education of the people who live here.

If you’re paying a higher interest rate on that cheaper house your housing price may still go up.

This. Also if you want to be in a premium area, those are not cheap in any metro area with any type of jobs. Even Detroit has expensive suburbs.

+1 If you want a nice house in a nice neighborhood, then those really aren't any less expensive than similar DC area properties.

Some of those COL charts are a bit misleading. Some of the other areas also have less expensive homes that are smaller, less desirable locations etc. that bring down the overall COL. But if you compare like to like for the types of homes DCUM would want to live, then these other areas aren't really any less expensive than DC these days.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My friend is panic selling. They are not feds but know the DC market will go down so they want to get the most amount out of their house.

Where will they go? Rent or move away from the area and abandon their jobs here?

It’s expensive to live in the DMV area. You can go to some red state and get a nice house for 250k. Crap schools probably but maybe you can help flip that state blue along with the other fired Feds fleeing the DC area

In lots of flyover country, schools are actually comparable or much better than the best schools in the dc area. You just have to look in places that attract educated people like areas around major universities.

These places are not cheap. Most cities that had become sanctuaries for the yuppies fleeing HCOL metro areas are now no longer a bargain compared to DC, and some have similar prices in the neighborhoods you would want to live in coming from here.

+1 This is why I think many people in DC will stay put if they have a way to stay afloat. The mid-size cities with nice neighborhoods and good public schools are just as expensive as similar neighborhoods in the DC area since the pandemic.

This is so blatantly false. Just pull up the US News list of best high schools, and search for homes in those areas. They are nowhere close to DC prices, and you don't have to deal with awful commutes. What's actually surprising is how mediocre the public schools are in the DMV despite the wealth and education of the people who live here.

If you’re paying a higher interest rate on that cheaper house your housing price may still go up.

This. Also if you want to be in a premium area, those are not cheap in any metro area with any type of jobs. Even Detroit has expensive suburbs.

+1 If you want a nice house in a nice neighborhood, then those really aren't any less expensive than similar DC area properties.

Some of those COL charts are a bit misleading. Some of the other areas also have less expensive homes that are smaller, less desirable locations etc. that bring down the overall COL. But if you compare like to like for the types of homes DCUM would want to live, then these other areas aren't really any less expensive than DC these days.

ITA, the charts are stupid. It's like median income charts in wealthy enclaves where people don't live off earned wage income. Each area has expensive and cheap housing and in between. And with diff amenities and people being used to certain amenities you may find an area having them in an LCOL place to be almost the same price and costing the same after you consider higher interest rate, cost of relocation, transit costs, etc. And if you don't mind downgrade in terms of housing quality, amenities, safety, etc, then you can find cheap stuff in your HCOL place too.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My friend is panic selling. They are not feds but know the DC market will go down so they want to get the most amount out of their house.

Where will they go? Rent or move away from the area and abandon their jobs here?

It’s expensive to live in the DMV area. You can go to some red state and get a nice house for 250k. Crap schools probably but maybe you can help flip that state blue along with the other fired Feds fleeing the DC area

In lots of flyover country, schools are actually comparable or much better than the best schools in the dc area. You just have to look in places that attract educated people like areas around major universities.

These places are not cheap. Most cities that had become sanctuaries for the yuppies fleeing HCOL metro areas are now no longer a bargain compared to DC, and some have similar prices in the neighborhoods you would want to live in coming from here.

+1 This is why I think many people in DC will stay put if they have a way to stay afloat. The mid-size cities with nice neighborhoods and good public schools are just as expensive as similar neighborhoods in the DC area since the pandemic.

This is so blatantly false. Just pull up the US News list of best high schools, and search for homes in those areas. They are nowhere close to DC prices, and you don't have to deal with awful commutes. What's actually surprising is how mediocre the public schools are in the DMV despite the wealth and education of the people who live here.

If you’re paying a higher interest rate on that cheaper house your housing price may still go up.

This. Also if you want to be in a premium area, those are not cheap in any metro area with any type of jobs. Even Detroit has expensive suburbs.

+1 If you want a nice house in a nice neighborhood, then those really aren't any less expensive than similar DC area properties.

Some of those COL charts are a bit misleading. Some of the other areas also have less expensive homes that are smaller, less desirable locations etc. that bring down the overall COL. But if you compare like to like for the types of homes DCUM would want to live, then these other areas aren't really any less expensive than DC these days.

A lot of the DC burbs have high taxes, which are capitalized in housing prices and lower price growth. Housing costs are shifted into the future, which is not great if your earnings remain flat because the percent of your income going to housing is going to increase considerably across the life of your mortgage and when you go to sell the amount of principle you will have paid off will be lower than if you had put the exact same amount of money toward a house with a higher sale price but lower property tax rates. I don’t think the DC metro is a worse value than lower COL areas, but it may be a worse value than areas with similar “all in” housing costs if you are looking at home appreciation and long term housing affordability.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My friend is panic selling. They are not feds but know the DC market will go down so they want to get the most amount out of their house.

Where will they go? Rent or move away from the area and abandon their jobs here?

It’s expensive to live in the DMV area. You can go to some red state and get a nice house for 250k. Crap schools probably but maybe you can help flip that state blue along with the other fired Feds fleeing the DC area

Nice house for 250k? Where, I mean which decade are you writing this from?

We live in a nice house in NJ that
cost $238,000 in 2024.

Where?

Marlton

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My friend is panic selling. They are not feds but know the DC market will go down so they want to get the most amount out of their house.

Where will they go? Rent or move away from the area and abandon their jobs here?

It’s expensive to live in the DMV area. You can go to some red state and get a nice house for 250k. Crap schools probably but maybe you can help flip that state blue along with the other fired Feds fleeing the DC area

Nice house for 250k? Where, I mean which decade are you writing this from?

We live in a nice house in NJ that
cost $238,000 in 2024.

Where?

Marlton

I looked at the prices in that area and around cherry hill. You do not have a nice house if you bought for 250K. It's likely a tiny shack needing major renovation because anything that would be approaching "nice" or even adequate for the DCUM crowd costs over 500K there, with what people would actually consider "nice" costing over 1 mil and more like over 1.5 mil. Yes, around Philadelphia.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My friend is panic selling. They are not feds but know the DC market will go down so they want to get the most amount out of their house.

Where will they go? Rent or move away from the area and abandon their jobs here?

It’s expensive to live in the DMV area. You can go to some red state and get a nice house for 250k. Crap schools probably but maybe you can help flip that state blue along with the other fired Feds fleeing the DC area

Nice house for 250k? Where, I mean which decade are you writing this from?

We live in a nice house in NJ that
cost $238,000 in 2024.

Where?

Marlton

I looked at the prices in that area and around cherry hill. You do not have a nice house if you bought for 250K. It's likely a tiny shack needing major renovation because anything that would be approaching "nice" or even adequate for the DCUM crowd costs over 500K there, with what people would actually consider "nice" costing over 1 mil and more like over 1.5 mil. Yes, around Philadelphia.

^^ A nice looking house that's still under 4000 sq.ft. (so, not particularly huge or particularly new) is going for 1.7 mil there. I don't know the area, is this like a super premium area there? What part of DC would this compare to? How much something like this would cost in NWDC? In a suburb of DC this architecture isn't super easy to find, but for the similar square footage for an older remodeled home it's easily the same price.

https://www.zillow.com/homedetails/364-Hickory-Ln-Haddonfield-NJ-08033/38274119_zpid/

This place, palatable to DCUM crowd is 2 hours away from NYC, not a plausible frequent commute. what other job markets are there in Philly to support this price?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My friend is panic selling. They are not feds but know the DC market will go down so they want to get the most amount out of their house.

Where will they go? Rent or move away from the area and abandon their jobs here?

It’s expensive to live in the DMV area. You can go to some red state and get a nice house for 250k. Crap schools probably but maybe you can help flip that state blue along with the other fired Feds fleeing the DC area

Nice house for 250k? Where, I mean which decade are you writing this from?

We live in a nice house in NJ that
cost $238,000 in 2024.

Where?

Marlton

A single family in marlton for $250k in 2024? I don't think so

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My friend is panic selling. They are not feds but know the DC market will go down so they want to get the most amount out of their house.

Where will they go? Rent or move away from the area and abandon their jobs here?

It’s expensive to live in the DMV area. You can go to some red state and get a nice house for 250k. Crap schools probably but maybe you can help flip that state blue along with the other fired Feds fleeing the DC area

Nice house for 250k? Where, I mean which decade are you writing this from?

We live in a nice house in NJ that
cost $238,000 in 2024.

Where?

Marlton

A single family in marlton for $250k in 2024? I don't think so

There are dilapidated 2 bedr shacks for this price. Maybe PP considers this a "nice house". Handyman special might be a decent option if you are a handyman

[Anonymous]

Panic at the Disco