Reply to What is truly going on with the DC area real estate market, please explain?

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[quote=Anonymous][quote=Anonymous]Basically lawyers, lobbyists, consultants are doing well while the middle class is completely hollowed out in this country, so places like DC are exploding while places with more blue collar jobs like say Baltimore or St Louis etc are doing terrible. The other symptom of this is that rents are stagnant while property values in places with white collar jobs explode. Couple this with low interest rates, and this discrepancy is really getting quite pronounced. As to where things go next? It’s anyone’s guess but I see the trend continuing for a while.

The two biggest wild card factors in my mind  that could put a damper in the trend in my kind are taxes and interest rates. If rates really blow out this could put a damper in demand. If taxes really ramp up on high earners in the 200-1mm range this could also put a damper on demand.

The other wild card factor worth mentioning is that if this economic recovery really stalls and we do start to see job loss trickle into the white collar sphere, that could be bad for dc real estate prices.

We will see what happens. It’s always interesting in markets.
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I don't see the increased tax burden as being significant to the 400k to 2 million crowd.  They will pay more but not so much that it impacts a home purchase.  Otherwise I doubt it will pass.  If it does, republicans take the house in 2022.  There is a fine line and Biden seems to know what he is doing.  My money is on Biden to get it right.[/quote]

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