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Reply to "How did you afford your $1M plus home?"
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[quote=Anonymous]What's telling in some of these comments is that the pool of buyers in the beltway is shrinking fast. That would indicate prices are unaffordable and will come down (increased interest rates in a few years will slowly do that as well). Basically, if you are new to town and want to buy, it could mean big trouble. The healthy trade-up buyers already did so - in 2010 with the tax credit - and the trust fund kids and foreign money aren't value-focused anyhow. This whole thread just illustrates how precarious and unaffordable DC housing is currently priced. Without family money or a previous successful sale, people don't have the downpayment money, regardless of income. Interesting indeed. [/quote]
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