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Reply to "Moco - no appreciation in the last 10 years"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]As a homeowner in Bethesda, i was looking through the data and was shocked at the fact that RE prices in this area are basically flat since 2008-2009 and even lower than the peak in 2005-2006. It looks like it’s not even keeping up with inflation. Meanwhile prices in Arlington and Fairfax have gone up by 40-50% over the same period. We are moderately well off but not rich by any means but this adds up to hundreds of thousands of dollars of home equity. I never expected the gap to be so large. We love our neighborhood and our commute to DC is pleasant but I can’t help but being slightly jealous. [/quote] There has been appreciation in the last five to six years because prices dropped from the peak. [b]What you’re complaining about is that prices haven’t exceeded the bubble prices. [/b]That would not be a particularly good thing if they did.[/quote] We are way past bubble prices in NOVA, and there's no sign of letting up. I am surprised to hear that prices are flat in Bethesda. That doesn't seem true to me. [/quote] Which means you’ll have another massive crash when the next recession hits. NOVA was devastated in the last one.[/quote] "Devestated"? Lol! I purchased my NoVA home at the peak of the bubble, held onto it as a rental because of it and it is now well over what I paid in 2005. That's not devastated. My current home I purchased in 1999 much further put than my rental for 475k. I'm in a development, and my neighbor just sold hers for 725k. Between my inside the beltway nova home and my outside the beltway home, excluding what I've paid down, I'm sitting on 600k in equity [/quote]
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