Reply to DC Expensive Real Estate causing Millennials to leave for the suburbs

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We're millennials (on the older end, 29-31) and we can't afford anything in DC other than a 1-bedroom and that's a total non-starter for us so off to the suburbs it is.[/quote]

Agreed. We can afford more than that, but not much. We have a $200K ish HHI. The real estate in DC is the only thing I really hate about it- I have a solid group of friends that don't fall into the DCUM- like foibles of hyper competition, etc- just normal, happy people. But the real estate is priced as if this were a much bigger, more exciting city than it is. DC isn't all that urban, yet prices start approaching cost-of-living in places around the world that are![/quote]
DC is the capital of the US.
Lots of activities, international and national happen here.
Everybody knows it but tends to forgot. It is not your average American city.[/quote]

No, and I know that. I am not a DC basher- I actually love it here. I also know that population doesn't dictate what a city has to offer or how "urban" a city is or is not, but its a factor- and DC is the 20-something largest US city. Capitol or not. Its got a very suburban feel and I actually like that blend! I lived in Adams-Morgan for quite some time.

But its priced in the same ilk as places with land scarcity or much higher population density, etc. Both here and abroad, I've been an expat in some of those places that are outrageous too. It just is annoying that it feels like this market is artificially inflated, like its snowballed and people cling to it because once you buy in, you have a vested interest in keeping that those prices climbing.

There is something painful about average, suburban American homes ( 3br 2 ba) here being priced out of reach of people who make more than 1/4 million a year.

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