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Reply to "Is there any reason to buy in MoCo instead of Fairfax?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I would buy in MoCo if it was close to my work, and if money was no object I think Bethesda is a much nicer looking area than McLean. The only people I know who have bought in MoCo are locals who grew up there and are just used to the area or want to be close to relatives for child care purposes. From an urban planning perspective, I think MoCo developed much better than the sprawl in Northern VA. If I was wagering, I'd say that FFX will remain pretty stable over the next 20 years but [b]MoCo will slowly but surely deteriorate into a land of major income inequality, declining older suburbs (places like Gaithersburg and Germantown), and deteriorating schools. [/b] Taxes are high and the low income majority-minority areas keep growing.[/quote] This has already happened. MoCo is a much more polarized county and the pressure on the higher income areas to support the rest of the county has been prompting people to move to Howard, Arlington and Fairfax (and for more of those who historically have moved from DC to MoCo to remain in DC or move to NoVa instead). Fairfax isn't immune from that - people leave Fairfax for Loudoun like people leave MoCo for Howard - but it is growing whereas MoCo has been slipping for years. [/quote] Agree with both of these PPs. MoCo is slowly decimating its middle class in so many ways. Middle class families (of all races) are fleeing to Frederick or Howard County. Like another PP said, the Montgomery County Council is SO liberal, it hurts. It hurts middle class families, and it hurts the school system, and it hurts the entire county. The schools have been deteriorating for the past decade. I have lived in our neighborhood for 15 years, and have watched it slowly change. Used to be a solidly middle class, diverse neighborhood. Teachers, Feds, nurses, etc. Slowly, it has turned more and more lower income. The County looks the other way and allows illegal rentals, to house undocumented immigrants, so we have homes on our street that used to be regular SFHs, and now have 4 families living in one home. This affects the neighborhood, the schools, everything. There is an entire underground 'cash only' economy in MoCo that had made it acceptable for everyone to ignore the rules. [/quote] The house I purchased in Bethesda in 2010, basically the bottom of the housing market, is now worth approximately what I paid for it at that time ONE decade later. I sold it in 2014 at a 12% gain and apparently the buyers have lost that entire 12% (this is according to the average value from zillow, trulia, and redfin, which I understand isn't perfect but it certainly gives you some idea). And it's not just worth 12% less than in 2014 - it's also worth less by the amount of inflation that has occurred since then. If it had simply risen with inflation it should be worth 17% more right now. So, something in MoCo is clearly not going very well[/quote]
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