Reply to How much higher do you think DC area prices can go long-term?

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Reply to "How much higher do you think DC area prices can go long-term?"

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[quote=Anonymous]Here we are in many areas of the region back to pre-crash prices.  Now, it's easy to assume that because the prices returned to their high levels, that this is the new normal benchmark that despite future dips, prices will always return to.  But, low interest rates were the cause of the current price run up.  So what happens when rates are back in the 6% range and higher?

Will prices still increase?  I'm assume that despite high rates in the 80s and 90s, places like San Francisco and NYC had pretty steady home price gains.  Now that DC has a lot more going for it and a lot more reasons to cause real estate demand, will DC also see price gains when rates rise like it did for SF and NYC in the 80s and 90s?

Basically what I am wondering if we are seeing the top of the prices right now.  When rates rise, will we have to wait for another crash and another recovery before we see rates this high again?  Or is DC really becoming into its own and has nowhere to go but up regardless of rate hikes?

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