Reply to DC Area Housing Bubble?

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[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]

DC is not on the level of any of those cities And it never will be. Paris is the closest in size to DC, but Paris has significantly more density than DC. You’d have to tear down all the single family homes in DC and put up apartment blocks to match Paris density. However, the transit system in the Paris area is beyond anything we have in the US. It’s not obligatory to live in central Paris to have a short commute. [/quote]

Well the largest French embassy in the world is in DC.  You might not think DC is important,  but the French certainly do. [/quote]

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