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Reply to "Housing prices have gone insane"
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[quote=Anonymous][quote=Anonymous]Even if my job or DH’s was 100% remote which it definitely will not be (I could work 2-3 days remote already, he could work 1) I’d still choose where I’m living in Alexandria city. I love the proximity to everything. Sure there was a premium but we didn’t just move here to be close to our job. This allows us to live with just one car, with a smaller footprint house which we wanted anyways, a within walking distance to plenty, 10-15 minute drive or public transport from anything I need: stores, restaurants, museums, theaters, and live in a diverse community. On the days I do commute, I’m there and back sooner. For me, living here isn’t just about work. I have no idea what will happen to housing prices, right now it’s clear there isn’t a lot of SFH inventory and that could change as attitudes shift. But we are staying put, and would not have made a different decision. I do think the shift remote for a lot of white collar workers will allow people who can’t or don’t want to purchase close in to move further. But I doubt demand for SFH will soften so much close in that we see an absolute cratering of prices and suddenly you can buy a $900k house in Arlington for $600k or less. But honestly, no crystal ball in this situation. [/quote] The prices will decline and look more similar to outer burb prices. I know DCUM doesn’t want to admit it, and of course everyone is going to be on here saying they prefer to live closer in, because 90% of this forum is closer in burb people. But in Facebook DC area parenting groups, which have people from all over the region, everyone is saying otherwise. Your anecdote doesn’t change the statistics as shown by the NPR article. 35% of DC area workers were already WFH even before the pandemic because of increased housing costs. Employers are “happy to make those changes” according to that article. So everyone can deny it all they want, but the majority of jobs in DC probably will be virtual. This is not to mention that fact that some companies have been leaving the DC area altogether because they have had trouble recruiting people because of housing prices. Discovery Inc moved to Knoxville. You may chose to live closer in regardless, but the vast majority of DC area workers wouldn’t. That’s why the median-incomes in the outer burbs grew at higher rates than inner burbs median incomes did over the past 3 years. [/quote]
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