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Reply to "The government has always been here. So why was the 50s, 60s, 70s, 80, 90s COL here so affordable?"
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[quote=Anonymous]With the first dot com boom, salaries for lawyers exploded in the early 2000s. You can say that for lots of places, but DC is a city of lawyers. New attorneys fees went up so fast (I got 4 raises and doubled my income in 2001), that it was reported that new associates made more money than Supreme Court justices and members of congress, so of course the government pay scale went up too. At the same time, easy credit, more income as new non-government jobs from AOL and other employers, and a general sense that more borrowing was okay really jumped rental and buying prices. Also, the DC home buyer $10000 tax credit caused everything in DC to immediate jump in price by that amount.[/quote]
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