Reply to DC Housing Prices drop beginning

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]This point that people loosing theirs jobs are primarily waiters and bartenders, who are not relevant to the housing market for SFH strikes me as a very sheltered and naive view. What about the people who own the bars and restaurants where the laid off waiters and bartenders used to work? What about professionals who work in the travel and hospitality industries, for example? There are so many people who are impacted by the current crisis. [/quote]

Just be patient; the drop is coming. We are already seeing it in Arlington as the Amazon binge cools off. Houses in Pentagon City and Del Ray are selling for 10% less than they would have otherwise  - check out sale prices in the last week in both neighborhoods compared to 6 weeks ago.

We are in a situation where nationally we will likely have unemployment above 15% for the next 18 months and will potentially see a global depression into the late 2020s. I would not touch the DC housing market until at least this October. Having said that, I do not think we will see a genuine crash in real estate prices in this area given increased government spending on contractors, but I do believe we will see at least a 15% drop by next year.[/quote]

Links please.[/quote]

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