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Reply to "Isn't trading up going to end as folks are priced out?"
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[quote=Anonymous]We had to trade up because there was no way we could have afforded a forever home on our incomes. We already traded up once from a condo to a rowhouse before kids. The up and coming neighborhood was fine with little kids and a great charter. We finally moved when I got a job outside DC (Anne Arundel County) in an area with great schools. Our DC rowhouse equity allowed us to get a much larger new build house for the same price. In the current market, we probably would have gone for an older/smaller home we could buy for cash — mainly 1960s-80s homes here.[/quote]
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