Reply to Concerned about building in n arlington and the "bubble".

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]So, back to OP question somewhat, if Arlington is in a bubble, what about Mclean, Bethesda, Potomac? Are prices there still below housing bubble 1.0 peaks? Or not as crazy as the multimillion teardowns that are now selling in Arlington?[/quote]

McLean, Bethesda and Potomac have always hovered around those price points and the type of people living there show that.

[b]North Arlington has quickly bubbled up to those price points without the same high HHI and is not considered as desirable[/b]. If given the choice between McLean and North Arlington at the same price point (remember North Arlington was always lower) you would consider looking at the historically more affluent places when considering North Arlington. Once North Arlington hit a certain price point it puts it into comparison with McLean, Potomac, Chevy Chase, Georgetown, Great Falls etc...

Let's get real here, no one thinks of North Arlington as the same league as those places mentioned, so the price point is artificial.[/quote]

We've addressed this time and time again.  The inventory is flying off the shelves.  How is the HHI not supporting the sale of all of these $1.5-3 million homes in Arlington?  Somebody that wants to live very close to DC, near Metro and tremendous walkability is not considering Potomac, Great Falls, McLean, etc.

The majority of people in our neighborhood have moved there in the last 5 years when prices were this high.  I would not live in CC because I hate MD.  I grew up in McLEan and found it d.e.a.d boring.  I did live in Georgetown for many years and love it but did not want to send my kids to private school.  Who exactly do you think is buying these million+ homes?[/quote]

Somebody that doesn't want the 45min -1 hour commute to DC each morning.  It takes a 1/4 of that from Clarendon.[/quote]

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