Reply to Why is DCUM SO conservative with housing?

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[quote=Anonymous][quote=Anonymous]Did anyone click on the link?

I'm surprised that no one has commented on the graph that shows that the current Home Price to Median Household Income Ratio is almost at the same exact level as we were at the peak of the housing bubble back in 2005.

Kinda makes this entire thread lathered in irony. [/quote]

OP here. Do you think the DC real estate market is going to crash and stay down for an extended period of time?

I actually do happen to think that some economic pain is in our future as a country. But the housing market is not anything like 2005, when people were buying two, three or four houses for speculation and with no ability to pay the adjustable rate mortgages when rates increased. In particular, the DC area is likely to always have plenty of well-paying jobs to support a healthy housing market. More likely than a sustained crash is just that prices stay high (with some ups and downs of course) and more people get priced out of the market as inequality increases.

It’s always better to buy low of course. But if I were just starting out, I would feel much more comfortable putting a big down payment on a nice house than I would putting money in the stock market right now.[/quote]

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