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.
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FollowBefriend (7)1 threads1,217 comments
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.
FollowBefriend (9)410 threads4,107 comments Baltimore, MD
I agree. I would not buy a house here now.
FollowBefriend285 threads1,760 comments
"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."