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Reply to "$200K and just getting by"
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[quote=Anonymous][quote=Anonymous]Buying in DC in late 90s was a big gamble, it was a declining area. Folks lucked out because 9/11 triggered a boom here. Without that, I expect we would be more like Albany than Manhatten. [/quote] +1 We thought the people spending insane amount on houses in the early 2000s because "housing never goes down in value" were idiots. Looking back at our property assessments, our house had declined in value for over 6 yrs before buying it at the bottom of the market in the mid-90s. And this was a 4-bedroom house a few blocks from the Orange Line. Yes, our timing was purely luck. But we also went into the purchase not expecting a lot of appreciation so we were cautious about not spending too much, esp. because interest rates were high.[/quote]
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