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Anonymous wrote: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.

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.

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.

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?

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/

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 explicitly ignores condo sales). 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.

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.

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.

Condo sales were separated out of the data because they tend to drag down median sale price.

Anonymous wrote:

Anonymous wrote:

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Anonymous wrote:

Anonymous wrote: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.

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.

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.

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?

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/

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 explicitly ignores condo sales). 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.

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.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

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.

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.

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?

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/

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

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.

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.

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?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

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.

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.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

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.

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.

Anonymous wrote:

Anonymous wrote: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.

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.

Anonymous wrote: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.

Anonymous wrote:Taxes and fees to live in Houston are more, and the insurance if you own a property, is through the roof.

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Anonymous wrote:When I look both ways on K and 1st NW - there are a ton of new buildings being built and/or empty lots being razed. Seems that there is quite a bit of building going on and I was told that there is a significant portion of low income housing going up. Sorry - I just don’t see the need to tear down zoning in places with trees when the need is being met in other parts of the city that need development and investment.

The need for more housing is not being met by construction on a few blocks near Union Station.

I did no say it was being "met" and quite frankly it is more than a few blocks. There is lots of dumpy space and buildings that should be torn down and built into livable homes and retail. The point is the "i don't even own a backyard -but want to destroy yours" people want to change zoning in SFH neighborhoods - which makes no sense given the availability of better locales.

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Anonymous wrote:I hate hate hate these Upzoning ideas. These developers are brilliant for turning these folks into their third party validators.

Upzoning and reducing land use restrictions is sound policy validated by years of high-quality research, no matter how many times you post the same brainless rants and raves.

Actually it’s not and the best research on the subject doesn’t support this conclusion.

It most certainly does, and has been posted numerous times in several similar threads. It's very interesting how people who take your position scuttle away whenever it's posted, only to pop back up in another thread spouting the same nonsense like it never happened.

Just like the urbanists scuttle away when it’s pointed out that developers have approvals for tens of thousands units that they’re just sitting on. Build those, housing crisis solved.

The research cited is small N, and urbanists overextend the arguments. I say this as someone who believes upzoning is necessary but not sufficient.

You're truly out to lunch if you think ~11,000 yet-to-be-delivered units in the Montgomery County pipeline solves the housing crisis. We live in a metro area of over 6 million people.

The research is sound. It'd be great if you could engage with it instead of saying something that sounds intelligent, like that it "is small N" but just reveals that you haven't actually read any of it.

Montgomery County's pipeline has 30,000 residential units in it. More than two thirds of those units were approved since 2015. You're truly out to lunch if you don't know that. Some of those units will never be built because planning allowed developers to downsize as they closed in on delivery, and some of those units became short-term rentals, again with planning's blessing. That's a lot of saying YIMBY, so saying YIMBY clearing isn't sufficient to solve the housing crisis, even though it is necessary. To solve the housing crisis, it needs to get a lot more uncomfortable for the developers sitting on these approvals. Plan validity duration should be reduced and fees for extensions should go up based on the severity of the housing crisis.

I have read the research. You overextrapolate from it. Get familiar with what's going on in this area and then comment again. It's hard to fix a market when you don't understand what's actually happening in that market.

One thing that never works is supply side economics, unless your goal is increasing the wealth gap, and then it's a great policy. There's a lot of research on that.

200k brand-new townhomes in Houston beg to differ.