Reply to Zillow data shows DC with 3rd largest price drop in the Nation

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]West Virgina failing too [/quote]

YoY WV is up 4.9%. DC is down -3%, trailing only FL at -3.1%.

Literally any moment we will hear from Karens telling us this may be true in the burbs or on some unsafe block but this is not true close in, like on their block full of trust fund babies things. No one on their block has ever met a fed or a contractor…it’s actually unclear if anyone works but everyone has so much equity (!) and if there is a downturn that impacts them these close in families will rent out their attic and make their basement into a condo before leaving and literally everyone else they know will do the same. Home prices will not crater because only a lunatic would leave DC for some other metro with zero culture and class. Furthermore, if DC has a recession the world will be on fire so still no place to move! Also, two people on their street listed their houses last week and they just sold over ask after receiving multiple offers. [/quote]

Well, in fact, actually, two houses in our Bethesda neighborhood did just go under contract in under a week. One I know sold for over list price, the other I don't know. And any family with a lot of equity, if kids are involved, will make heroic efforts to not sell the house, so not sure what you're on about...[/quote]

Plenty of people are in DC for jobs and when their jobs go…so do they. They didn’t really want to be here anyway and they’ll be just fine in Marin or Atlanta or Boston. And children change schools all the time. It really is immaterial if it occurs before middle school. [/quote]

I'm the PP you quoted and yes, I agree with you! Some people will move. Manny others, however, will not 
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