Reply to DC Area Housing Bubble?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Yeah and I'm waiting for this magical bubble to burst. LOL All of you seem so certain. Get real. [/quote]

Hence the point of my post. It’s people like you that  seem so certain that there isn’t a bubble or the market isn’t overheated.

So smug and all knowing. 
[/quote]

Here is something we do know... homes in DC were dramatically undervalued for a long time compared to HHI.

[b]This is only my opinion, but I think the DC market was simply catching up.[/b]  Now home prices are more in line with salaries and other cities with similar salaries.  [/quote]

This is still true. DC is relatively MUCH cheaper than pretty much any other major 1st world capitol city in the world. Paris, NYC, London, Tokyo, Toronto, Sydney, Zurich, Vienna, Rome, Moscow - all are significantly more expensive than DC in terms of housing purchases when compared to average salaries.[/quote]
Lord, I love D.C. As much as the next person but it is not in the same league as any of those cities (also the Capital of Canada is Ottawa and the capital of Switzerland is Bern). All those international capitals (plus NYC, Toronto, and Zurich) are the cultural center of their countries. Most are also the financial centers and largest city in their respective nations. DC is not the biggest city in the U.S. and is certainly not the biggest national economy. I wouldn't even say it is the cultural center but that could be something others disagree with. So no, the housing shouldn't be priced like cities that are those things. That's apples to oranges. [/quote]

Agreed. I find it very amusing when residents of DC somehow believe they are on par with residents of those other cities. Don't get out much I guess. [/quote]

You're delusional if you think the US capital isn't important and that its economy isn't vastly more important than the economy of Rome, Vienna, etc.  [/quote]

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