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Metropolitan DC Local Politics
Reply to "Six Figures: DC-Area Home Sellers See Highest Profits on Record"
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[quote=Anonymous][quote=Anonymous]https://dc.urbanturf.com/articles/blog/six-figures-dc-area-home-sellers-saw-the-highest-profits-on-record-last-qua/18548 And yet, some say we don't need more market-rate housing. :roll: :roll: :roll: :roll: [/quote] The study is kind of junky because it doesn't incorporate cost of maintenance or renovations that affect value at market. Of course we need more market-rate housing, SFH to be specific. But as they are not making anymore land, supply will be driven by turnover, not new construction. It simply doesn't make financial sense for a lot of people to downsize even though they're over-housed, because their current monthly housing expenses are less than they'd be if they downsized. If I were planning to downsize three years from now, I'd definitely accelerate and downsize now because my house has appreciated faster than the types of units I'm looking to buy, and I don't think that disparity will persist. [/quote]
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