Reply to There is no housing bubble in the DC area so get over it

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]location location location

if you bought a SFH, inside the beltway, near a metro with good schools you should be fine because there isn't enough land to build new homes there. Again you have a situation of low supply. If would be an issue If all of a sudden people started dumping there homes in the current coveted areas.[/quote]

Example?[/quote]

falls church city, mclean, bethesda etc...[/quote]

Falls Church home prices over the past decade:

http://www.zillow.com/local-info/VA-Falls-Church-home-value/r_4679/#metric=mt%3D34%26dt%3D1%26tp%3D6%26rt%3D8%26r%3D4679%252C244613%252C48809%252C244520%26el%3D0

Bethesda home prices over the past decade:

http://www.zillow.com/local-info/MD-Bethesda-home-value/r_37406/

McLean home prices over the past decade:

http://www.zillow.com/local-info/VA-Mc-Lean-home-value/r_46465/

McLean actually makes sense to me because of the Silver Line, that would definitely add economic value to the area, still not worth 2006 prices...but an argument could be made there. However, that depends on what rents go for in the area.

http://piggington.com/is_washington_dc_in_a_bubble_again

When you have people including escalation clauses going upwards of $150k on $500k houses, and a dozen bids coming in after the first showing, people making bids on houses without even seeing them firsthand...that's not a good sign of sustainability.

I'm sorry, but when local realtors are even going so far as to say that DC is in the beginning phase of a bubble...that should give you some pause when you realize that to them the "B" word is that which shall not be spoken!

http://blog.redfin.com/blog/2013/04/the-2013-real-estate-bubble.html

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