Anonymous wrote:

I viewed some of the houses linked. I live in a suburban area of Minnesota. I live in a brand new home (built 2005) that is actually more spacious than most listed, certainly newer, over 3000 sq ft with 5 bedroom, 3 bath ... and paid $389,000 for it. It is incomprehensible to me, the cost of real estate in DC area. I hadn't realized when I read the OP that $1.7 million in DC would be equivalent to around $400,000 where I'm from. Salaries have got to be much higher there. We'd never be able to afford a million dollar home, and from the looks of homes in that price range, they'd be a huge step down for us, too.

Enjoy Applebee's!

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Those are some pretty old, small and ugly houses. I can see why the OP is not in a rush to buy one like that.

Are you fucking serious? What a damned insufferable snob you are. I hope all you snobs stick together for friendship; as a mere mortal I don't want to know you. Your comment absolutely disgusts me.

Whoa, there big girl, tame your potty mouth. Get out the soap.

I'll tame my potty mouth when the uninformed out of town peanut gallery actually obtains reading comprehension skills, and when rich 1%ers stop complaining about no decent houses priced at $1M.

I viewed some of the houses linked. I live in a suburban area of Minnesota. I live in a brand new home (built 2005) that is actually more spacious than most listed, certainly newer, over 3000 sq ft with 5 bedroom, 3 bath ... and paid $389,000 for it. It is incomprehensible to me, the cost of real estate in DC area. I hadn't realized when I read the OP that $1.7 million in DC would be equivalent to around $400,000 where I'm from. Salaries have got to be much higher there. We'd never be able to afford a million dollar home, and from the looks of homes in that price range, they'd be a huge step down for us, too.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP, just bc you can comfortably afford 1.7m doesn't mean you should spend that much. ESPECIALLY in this economy. What happens if you or your husband loses employment? Become underemployed? What if you have unexpected medical expenses?

You can very easily find a great home for 1m and put away all of the extra that you would have spent on housing into savings.

Also, I'll note another reason you shouldn't immediately shut down your spouse: the housing market keeps dropping. You spend 1.7m on a house today, next year it can be worth 1.4 or 1.5m.

maybe in baghadad! the DC housing market has been shooting through the roof due to tight supply good jobs and high incomes.

Don't buy the hype from realtors and banks. They are looking to create another housing bubble in DC.

The market appears to be increasing but it's largely temporary for a variety of reasons. 1) banks have decreased foreclosure proceedings for the time being. 2) investors have been buying up extra properties to convert into rentals... this is temporary, and not a permanent fixture. 3) ppl who would otherwise sell can't do so because they bought at the top of the market and can't get their investment back.

Prices need to continue increasing through the fall and spring (they already dropped off last month w seasonal adjustments) in order for it to be the beginning of a true recovery. It's just not happening. & again, remember that they are are a lot of houses still in limbo awaiting foreclosures or near it.

Anyone with half a brain will be conservative.

+1

This time around it's different because everyone has to put money down and rules are much stricter so the gains are not a bubble. It is estimated that real estate will increase 3-5% each year in the DC metro area. Also note that this is a conservative estimate.

Washington DC 1.08% 4.35% 4.32% 3.72% 8.04%

http://investing.businessweek.com/research/stocks/news/article.asp?docKey=600-201210300958PR_NEWS_USPRX____NY02548-1¶ms=timestamp%7C%7C10/30/2012%209:58%20AM%20ET%7C%7Cheadline%7C%7CHome%20Prices%20Continued%20to%20Rise%20in%20August%202012%20According%20to%20the%20S%26P/Case-Shiller%20Home%20Price%20Indices%7C%7CdocSource%7C%7CPR%20Newswire%7C%7Cprovider%7C%7CACQUIREMEDIA%7C%7Cbridgesymbol%7C%7CUS;MHP&ticker=MHP

Any economist will you that this is not a true increase. At best, the housing market is remaining flat if it gets annual increases of 3%.

Here is Shiller himself talking about how the increase is likely temporary: http://video.foxbusiness.com/v/1763948195001/

& from yesterday, Shiller: Housing Could take 50 Years to Recover
http://www.cnbc.com/id/49623744

“My general idea is that we’re not going into a nationwide boom and not many places will show booms in the next few years,” Shiller said.

we are talking about the DC market, not florida, phoenix or vegas.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP, just bc you can comfortably afford 1.7m doesn't mean you should spend that much. ESPECIALLY in this economy. What happens if you or your husband loses employment? Become underemployed? What if you have unexpected medical expenses?

You can very easily find a great home for 1m and put away all of the extra that you would have spent on housing into savings.

Also, I'll note another reason you shouldn't immediately shut down your spouse: the housing market keeps dropping. You spend 1.7m on a house today, next year it can be worth 1.4 or 1.5m.

maybe in baghadad! the DC housing market has been shooting through the roof due to tight supply good jobs and high incomes.

Don't buy the hype from realtors and banks. They are looking to create another housing bubble in DC.

The market appears to be increasing but it's largely temporary for a variety of reasons. 1) banks have decreased foreclosure proceedings for the time being. 2) investors have been buying up extra properties to convert into rentals... this is temporary, and not a permanent fixture. 3) ppl who would otherwise sell can't do so because they bought at the top of the market and can't get their investment back.

Prices need to continue increasing through the fall and spring (they already dropped off last month w seasonal adjustments) in order for it to be the beginning of a true recovery. It's just not happening. & again, remember that they are are a lot of houses still in limbo awaiting foreclosures or near it.

Anyone with half a brain will be conservative.

+1

This time around it's different because everyone has to put money down and rules are much stricter so the gains are not a bubble. It is estimated that real estate will increase 3-5% each year in the DC metro area. Also note that this is a conservative estimate.

Washington DC 1.08% 4.35% 4.32% 3.72% 8.04%

http://investing.businessweek.com/research/stocks/news/article.asp?docKey=600-201210300958PR_NEWS_USPRX____NY02548-1¶ms=timestamp%7C%7C10/30/2012%209:58%20AM%20ET%7C%7Cheadline%7C%7CHome%20Prices%20Continued%20to%20Rise%20in%20August%202012%20According%20to%20the%20S%26P/Case-Shiller%20Home%20Price%20Indices%7C%7CdocSource%7C%7CPR%20Newswire%7C%7Cprovider%7C%7CACQUIREMEDIA%7C%7Cbridgesymbol%7C%7CUS;MHP&ticker=MHP

Any economist will you that this is not a true increase. At best, the housing market is remaining flat if it gets annual increases of 3%.

Here is Shiller himself talking about how the increase is likely temporary: http://video.foxbusiness.com/v/1763948195001/

& from yesterday, Shiller: Housing Could take 50 Years to Recover
http://www.cnbc.com/id/49623744

“My general idea is that we’re not going into a nationwide boom and not many places will show booms in the next few years,” Shiller said.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP, just bc you can comfortably afford 1.7m doesn't mean you should spend that much. ESPECIALLY in this economy. What happens if you or your husband loses employment? Become underemployed? What if you have unexpected medical expenses?

You can very easily find a great home for 1m and put away all of the extra that you would have spent on housing into savings.

Also, I'll note another reason you shouldn't immediately shut down your spouse: the housing market keeps dropping. You spend 1.7m on a house today, next year it can be worth 1.4 or 1.5m.

maybe in baghadad! the DC housing market has been shooting through the roof due to tight supply good jobs and high incomes.

Don't buy the hype from realtors and banks. They are looking to create another housing bubble in DC.

The market appears to be increasing but it's largely temporary for a variety of reasons. 1) banks have decreased foreclosure proceedings for the time being. 2) investors have been buying up extra properties to convert into rentals... this is temporary, and not a permanent fixture. 3) ppl who would otherwise sell can't do so because they bought at the top of the market and can't get their investment back.

Prices need to continue increasing through the fall and spring (they already dropped off last month w seasonal adjustments) in order for it to be the beginning of a true recovery. It's just not happening. & again, remember that they are are a lot of houses still in limbo awaiting foreclosures or near it.

Anyone with half a brain will be conservative.

+1

This time around it's different because everyone has to put money down and rules are much stricter so the gains are not a bubble. It is estimated that real estate will increase 3-5% each year in the DC metro area. Also note that this is a conservative estimate.

Washington DC 1.08% 4.35% 4.32% 3.72% 8.04%

http://investing.businessweek.com/research/stocks/news/article.asp?docKey=600-201210300958PR_NEWS_USPRX____NY02548-1¶ms=timestamp%7C%7C10/30/2012%209:58%20AM%20ET%7C%7Cheadline%7C%7CHome%20Prices%20Continued%20to%20Rise%20in%20August%202012%20According%20to%20the%20S%26P/Case-Shiller%20Home%20Price%20Indices%7C%7CdocSource%7C%7CPR%20Newswire%7C%7Cprovider%7C%7CACQUIREMEDIA%7C%7Cbridgesymbol%7C%7CUS;MHP&ticker=MHP

Anonymous wrote:So does being a snob, troll.

Anonymous wrote:^^Troll

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Those are some pretty old, small and ugly houses. I can see why the OP is not in a rush to buy one like that.

Are you fucking serious? What a damned insufferable snob you are. I hope all you snobs stick together for friendship; as a mere mortal I don't want to know you. Your comment absolutely disgusts me.

Whoa, there big girl, tame your potty mouth. Get out the soap.

I'll tame my potty mouth when the uninformed out of town peanut gallery actually obtains reading comprehension skills, and when rich 1%ers stop complaining about no decent houses priced at $1M.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Those are some pretty old, small and ugly houses. I can see why the OP is not in a rush to buy one like that.

Are you fucking serious? What a damned insufferable snob you are. I hope all you snobs stick together for friendship; as a mere mortal I don't want to know you. Your comment absolutely disgusts me.

Whoa, there big girl, tame your potty mouth. Get out the soap.