Reply to Bowie rocks! Why isn't it more popular?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I have 2 colleagues, one lives in Lanham, one lives in N.Arlington both are minorities. The one in Lanham paid $260k for a SFH in Lanham in 1995, the house is worth 350k(as per him), the one in N.Arlington paid 295k for a SFH in 22207 in 1998, the house is worth 1.2million. Both are friends and the contrast in two situations is so stark to me.

I completely agree that your house should not be a part of your investment portfolio but the difference in wealth acquired will reverberate for generations. I know so many professionals who live in PG, they have gained little in real estate wealth. Things may change but these are the facts and realities of today. So, Bowie must be nice but things are good as long as you go there with realistic expectations and knowing that you may not amass much in real estate wealth.[/quote]

Isn't there a fallacy about assuming that what has happened in the past will continue to happen in the future?  Young families looking for a home TODAY will find that homes in Arlington, Bethesda, and DC have reached a price they cannot afford, while Lanham is still affordable.  That price difference is so extreme.  Which community has the greater potential for growth?[/quote]

While I agree with your logic but that's not what is actually happening. Price has been driven in part due to two income households, these same families are bending over backwards to buy in Bethesda, McLean, Falls Church, Arlington, DC, Rockville, Vienna. In my circle, all young families are staying out of PG. Now, my circle is limited and I can't speak for everyone, it's just something I have experienced and therefore sharing. The harsh reality is that PG County's values will not see improvement till non blacks start moving, I wish it weren't so but it is a fact.[/quote]

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