Reply to We need homes. A lot of homes. Not just affordable, but also middle-income homes.

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]D.C. population is now shrinking, and interest rates are going to go up. Housing prices will inevitably fall. We're in a bubble at the moment, but it won't last. [/quote]

I was born and raised in DC and I’m now in my 50s. Housing prices have never fallen. The house my father bought for $25 thousand will probably sell for close to $3 million. The house I bought for @$300k 26 years ago will sell for $1.5 million. The population has shrunk since I was a kid.[/quote]
For detached and attached SFH this is true. Condos on the other hand are taking a hit this year and it will probably only get worse.  [/quote]

That's not been what I've observed. Maybe if you're talking about undesirable far-flung exurbs like Chantilly or Clarksburg I could see your point, but DC's condo market has seen slow and steady appreciation. Condos aren't appreciating as much as SFHs, but then again, when do condos ever appreciate as much as SFHs?[/quote]
You actually have it exactly opposite. Older condos in the most central and core areas of DC have gone down. Condos in sub/ex-urbs have appreciated a little. The only place with decent price appreciation is new build in the Wharf/Navy Yard.

https://dc.urbanturf.com/articles/blog/the-five-dc-zip-codes-where-home-prices-have-dropped-the-most-in-2021/18582
https://www.washingtonpost.com/business/interactive/2021/mapping-dc-regions-2020-housing-market/[/quote]

Neither of those articles indicate that condos in DC have depreciated while condos in the exurbs appreciated (and, in fact, the analysis in the Post article [i]explicitly ignores condo sales[/i]). The median sales price for certain DC zipcodes may have fallen, but that could be explained just as plausibly (if not moreso) by a higher share of condo transactions dragging down median prices, and vice versa for the exurbs, where SFHs are the dominant housing type.[/quote]
I’m curious who you are and what you think you are doing here? Why do you spend your time lying about things online. Either you didn’t bother to read and lack the ability to understand words, I don’t know. You are probably the same person who posted saying that northern Virgina grew due to their “huge investments in transit”.

For the record, this is not for your purposes but anyone who casually strolls by I will repost an excerpt. 
[quote] The 20008 zip code, which includes Cleveland Park and Woodley Park among other neighborhoods, saw sales prices drop the most year-over-year, falling nearly 12% to $550,773. While recent price drops in DC neighborhoods are often due to an increase in the share of condos and co-ops sold because these tend to have lower prices, that dynamic is less applicable in this case, as 69% of the units sold this year were condos compared to 66% in 2020. Prices went down across all property types, with 4+ bedroom homes as the lone exception.[/quote]

[/quote]

I'm pushing back against people like you who either transparently lie on the Internet, or are so confident in their own brilliance that they assume they know everything. The quote you pulled out to "prove" your point even indicates that condos comprised a higher share of sales in 2021 than 2020. Declining prices in one corner of downtown are not generalizable to DC as a whole, and you certainly cannot extrapolate that the converse is true in exurbs.

And while we're on the subject of posting excerpts of the articles, here's a relevant excerpt from the Post article you linked (also for people casually strolling by and not for your benefit, since your reading comprehension is quite obviously deficient and it will be lost on you, sadly):
[quote]Condo sales were separated out of the data because they tend to drag down median sale price.[/quote][/quote]
You keep lying like it’s insane. You have a serious problem. The urban turf article includes condos. You are seriously mental. It’s honestly weird that you are a compulsive and tendentious liar. You need help.
[quote] 69% of the units sold this year were condos compared to 66% in 2020. Prices went down across all property types, with 4+ bedroom homes as the lone exception.[/quote][/quote]

I never said that the Urban Turf article didn't include condos, only the Post article. Which you would've understood if you had bothered to actually read my post (hint: it's in the second sentence!), and not just assume you knew what I had said because you're so convinced of your own intellectual superiority. You may want to look in the mirror next time you accuse somebody of needing help.[/quote]
You think that Woodley and Cleveland Park are a “corner of downtown” and expect people to take you seriously. 
[/quote]

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