Skip to comments.BOOMTOWN: D.C. house inspires 168 bids in red-hot real estate market
Posted on 12/21/2012 12:44:48 PM PST by Poundstone
While much of the nation is still struggling to emerge from a historic housing-market meltdown, the District is reliving its boom days. High rents, low interest rates, low inventory, and a flood of new residents in their 20s and 30s are making parts of the city feel like its 2005 again.
The median home sale price in the District is up 14 percent from last year, according to RealEstate Business Intelligence (RBI). And the average number of days houses spend on the market has fallen by nearly 30 percent, to 53 days.
(Excerpt) Read more at washingtonpost.com ...
We’ve owned our home in Arlington VA for more than 10 years. Sure glad we’re not in the market now. In our neighborhood, not much is available below 800K, and most often you’re talking well over a million.
It will continue to explode now that folks know that the Obama pork train which has created thousands of “stimulus millionaires” in the D.C.-area will ride on for another 4 years.
This sounds like a scene from the capital in Hunger Games.
All tribute flows to the new Rome.
I look forward to the day when DC and environs are as prosperous as Detroit.
Unfortunately, I feel we have reached the point where what’s good for the nation as a whole will be very bad for Washington DC and the political/Govt drones there who buy $1,200,000 townhomes and suck off the Gov’t tit.
Its a paradox which will make reform extremely difficult.
Everyone wants to buy before 0bama’s 4.8% tax kicks in in January.
Its easy for DC to boom when the robber barons are in charge
Yeah, some choice you have if you work in D.C. You pay an insane price for an easy commute (off the charts prices for decent school districts) or you pay a merely ridiculous price to live in the suburbs and have a hellish commute.
Let’s hear it for the political elite.
In as little as 10 years, that development has turned VA from a reliably red state (as far as national politics go) into a trending blue state. Northern Virginians are not going to vote against their self-interest.
It’s a good thing to have all the leftist NWO traitors concentrated in one area. That way, patriots know where to concentrate their efforts to persuade them. But they should be okay. After all, food comes from grocery stores, and electricity comes from outlets. Right?