Reply to I think the bubble is popping.

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Reply to "I think the bubble is popping."

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]
Just coming here again to note that the most expensive end of the market is down now.

I see that in Bethesda in the 4-5M range, there are significant price reductions.

However I agree with PPs that low to mid range housing will continue to go up (not as rapidly as last year, though), because there is a fundamental shortage of these homes.

[/quote]

Yeah I'd hesitate to draw any conclusions between the $5 million market and people buying homes in the $500-800k range. I do take issue with OP's idea that the "bubble is popping." That would mean prices falling across the board, fairly quickly and significantly. And that's just not what we're seeing. More like "the air slowly being released from the market." Prices may stabilize, but they're highly unlikely to drop to any great degree - not in the DC area. [/quote]

I mean two GS15 households can swing a $1.2M house, and those are considered pretty low prestige jobs around here.  As long as people value schools and commute, most places will be fine. $5M homes represent such an odd slice, and more of that value will be in the build itself not the location. [/quote]

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