Reply to How much higher do you think DC area prices can go long-term?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Look at SF. They can definitely go higher, there are enough people here with salaries to afford them - those that can't will be priced out. [/quote]

Hah, only yesterday there was talk about the deflating of the tech bubble, which is why SF real estate is enjoying its own bubble.

In DC, about 90% of homeowners could not afford to purchase at todays prices; we have such low inventory that the constrained supply has triggered a bubble (unlike before, when it was a demand driven bubble).  Look at the housing stats: there are fewer and fewer first time buyers every month.  Ponzi scheme, with home owners and investors selling homes back and forth to each other -- you better be liquid if you are the one left holding the bag.

Capital city. DC has a long way to go before in same league as London or Paris, like generations.  And may never happen because of the cultural and commercial diversity that those towns offer, while DC is a company town.  Don't get me wrong, it is a nice town. But the only real attraction to why people move here is jobs; if the housing is so expensive that the jobs really are not paying enough, people will stop moving here and prices will drop.  And there are very few jobs that must be located in DC, even law and lobbying could migrate if their salary costs are rising too fast trying to support employees cost of living.  They'll just move back office to NC or Ohio, and leave a few partners and frontmen here; that would not support the population of the metro area.[/quote]

Again you talk out of your rear without any facts, provide some links to your wild theories. Do you even know what a Ponzi scheme is, this is a classic supply and demand issue coupled with a recovering economy.

You are the only person that believes DC isn't the same league as london or paris, in fact it is much better off and has much more new developments in and around it.

People will move to where the jobs are. They won't avoid places with jobs because of high housing costs, in fact [b]high COL will translate into higher salaries.[/b][/quote]
Unless you work for the feds.[/quote]

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