Reply to I think the bubble is popping.

Forum Index » Real Estate

Reply to "I think the bubble is popping."

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Some desperate buyers who could not outbid are having hope. Please dont even think about it. Prices are not coming down. Stop looking if you cannot afford.[/quote]

Stop wasting realtors time.  Even the ones at redfin.

If you were hoping to find a 700k SFH but they are now selling at 900k-1.1 mill- either change your kids school, buy a townhome instead, or continue renting at 3-4K a year and stop thinking a bubble is going to happen in the DMV.

Amazon hasn’t even hired all of its people yet. Neither has Microsoft or Facebook for this area.  Micron is still working on its factory in Manassas. AWS is still actively hiring. The market isn’t bursting any time soon- some fixer uppers might come on the market in the next few months, but you won’t find any gems. People are holding off until next spring. Or renting out their homes.

But my realtor friends are tired of you wasting their time with the whole “oh, we’re just looking” bs.

Inventory is not going to just suddenly explode here. Real estate is not like going to Costco or something. There is only so much land. And only so many people who are willing to part with it. Just looking around is just wasting everyone’s time.

And if you are watching HGTV- the reality is that this area is not Waco TX. This area is turning into SF or Seattle. The faster you realize that, the faster you can join the rest of us in the real world. [/quote]

I wasn't even going to respond to this but let me ask a couple qs.

Why would microsoft, fb, aws come to nova to work when they have so many better options for location? Most of these tech jobs will be filled by locals or early career folks who could care less about buying a family home in DC.

You need a TS clearance to even apply for all of the tech jobs in microsoft so a majority of the people flooding in can't even apply there. Facebook is in DC and offered a fully remote option for all levels so even if someone would want to come to DC, you think they will want to buy a house and settle down here?

Sounds like you're a realtor who's salty about reality. [/quote]

DP here.

First, Amazon and Microsoft already have commitments to the area.  They are trying to get a better let into government contracting among other things and it's easier to lobby and support from closer by.  So they have set up regional HQ in the area and are staffing up.  It will be slow and steady over several years, but that's happening.

In addition, independent of AHQ2 and MS, the population of the DC metro area continues to grow.  The population has more than doubled over the last 40 years and grows 1+% annually.  With a population currently over 6.2M that means that more than 60K additional residents are added annually. 60K more people coming in than leave the area annually.  These people have to live somewhere.  And many of the newcomers come in with high salaries.  As these folks come in, the also push and compete for the higher end housing making those area more in demand.  As people then get priced out of the first tier of housing, some of the them will get pushed to the second tier of housing making that more in demand and keeping prices up and so on.  The housing market is not likely to correct anytime in the near future due to the fact that more people are moving into the area.  And new housing is not keeping pace.  The only place that new housing is close to keeping pace with the population increase is the farther out exurbs.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics