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[quote=Anonymous][quote=Anonymous][quote]Yes, but houses are being listed way outsized to their value (e.g we looked at a house with substantial water damage listed at 555 - we asked the real estate agent if they’d be willing to negotiate- crickets - just saw they brought the price down to 545). There is a quiet correction going on. I don’t think there will be a crash - way too many people are invested - [b]but I think housing prices will be flat or a little decreased for the next five years at least. [/b]You can’t have constant growth, despite the commonly accepted economic theories.[/quote]

This. We lived through the 90's here. It took about 10 years before prices started going up again after the big late 80's, early 90's run up in prices. Unfortunately we bought at the peak in 1989 and sold before the next run up. Sold in 1999 for less than we paid in 1989. In Fairfax County. Of course things went crazy again in the early 2000's until 2008. We are now going into a downward/flat cycle. It could last 10 years just like it did in the 90's. Buy for your home needs, not for any idea that your home is an investment that appreciates. We probably won't keep up with inflation on it.[/quote]

+1.  Lifelong Fairfax county resident.  Purchased first home in 1993 and had to sell it 1999 at lower than purchase price.  Yes… the run up can’t go on. RE runs in cycles and I believe the next 7-8 will be down cycle - until wages catch up.  [/quote]

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