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DC: The Price Isn't Right

By Analyst15   Follow   Fri, 10 Jun 2011, 12:28pm   506 views   3 comments
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Thanks to everyone who responded to my first question/post about the DC market.

This article was in the City Paper that I picked up today. I'd be interested to hear everyone's thoughts.

http://www.washingtoncitypaper.com/blogs/housingcomplex/2011/06/09/the-price-isnt-right/

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1. klarek Follow Befriend (7) 1 threads 1,217 comments

   1   1:13pm Fri 10 Jun 2011   Share   Quote   Permalink   Like   Dislike   DC prices are bullshit. Low unemployment and a relatively low number of foreclosures have delayed an inevitable price discovery. Plus, as the article mentions, there's the DC tax credit. Prices here don't match median household income trends compared to pre-2000. This is unsustainable in my opinion.

2. zzyzzx Follow Befriend (9) 410 threads 4,107 comments Baltimore, MD

   2   10:49am Mon 13 Jun 2011   Share   Quote   Permalink   Like   Dislike   I agree. I would not buy a house here now.

3. HousingWatcher Follow Befriend 285 threads 1,760 comments

   3   11:52am Mon 13 Jun 2011   Share   Quote   Permalink   Like   Dislike   "DC prices are bullshit. Low unemployment and a relatively low number of foreclosures have delayed an inevitable price discovery." So, if by your own admission, DC prices are based on sound fundamentals (low unemployment and low foreclosures), then they are not "bullsh*t."