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Reply to "When will home prices starting going down again?"
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[quote=Anonymous][quote=Anonymous]They aren't going down. In the past almost 30 years that I have lived here they have never gone down. DCUM will NEVER understand this.[/quote] They did around 2008. Some people like to act as though inside-the-beltway SFHs were somehow insulated from price declines, but that's simply false. Many people who bought SFHs in highly desirable areas during the last bubble later sold at a loss. I know it's an uncomfortable truth because people like to believe that real estate in certain areas never goes down, but it has in the past and it can happen again. And by the way, even if something truly has "never" happened before, there is a first time for everything. Probably four years ago, commercial real estate brokers would tell you that CRE never goes down in DC, but here we are.[/quote]
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