Reply to The DOGE Downturn

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Well, ultimately everything comes down to price vs local income and interest rates. Can Rockville support very middling houses priced at $1 million plus when the median income is $64,000 and average mortgage interest rates are 7 percent? No, of course not. Home prices are so far beyond the historical norm that eventually it's going to correct hard. [/quote]

Overpricing correction.  Imagine paying some of these high amounts to live in SS or Rockville.    [/quote]

1M in Rockville is not crazy. It is upper middle class suburbia, pretty much no crime. Bethesda’s entry level homes sell for 1.2-1.3M, and Rockville is just next up in commute distance. It’s the price to pay to not get shot in DC proper[/quote]

Agreed. Silver spring has also been desirable for a long time[/quote]

This is why I think it's not a total downturn. I bought in bethesda for 870k in 2020...comps in my neighborhood are going for 1.2-1.3 ...there is a long way still to drop back to pre covid prices[/quote]

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