While driving around the District today, I came across these two for sale signs right next to each other. ( image was taken on my camera phone ) This occurence would have been very rare one year ago. In the District, listings are up 62 percent from October of 2004 ( Washington Post 11/11.
Posts
The Post has been decent about the bubble recently, but today's express was back to the same old baloney of years' past, with a story about three 20-somethings who had been flipping houses (although they had at least lived in them) and now were in a $600,000 model. The article just gave the impression this was somehow a trendy and smart thing to do.
ReplyDeleteI was just reading that article on the metro. I agree with youe sentiments.
ReplyDeleteI went to the Yale Lofts condo open house this past Tues at Rosa Mexicana. It was packed- I don't know whether it was the condos or the free yummy food from Rosa Mexicana. They set up appointments for this week- no waiting for months to watch if prices go up anymore- they must be afraid of bubble (then again, condos will be built by 2008).
ReplyDeleteI'm pessimistic short term, but who knows if condo prices will rise more in 2008 (though I'm def. not buying).