Friday, January 06, 2006

Popilicious in DC


FOUR rowhouses available along MacArthur Blvd in DC.
Posted by David at 6:41 PM

10 comments:

  1. dcbubble.blogspotJanuary 06, 2006 4:32 PM

    This photo is schocking for those that have forgottent that real estate is not a liquid as securities.

    Inventory is building in dc. And the days a property sits on the market is longer than it was months ago.

    But this a return to the norm. Last summer's peak was the exception.

    ReplyDelete
  2. AnonymousJanuary 06, 2006 4:36 PM

    I sold in NW DC in Sept and I have not seen a pic like that in YEARS. OOF!

    ReplyDelete
  3. DavidJanuary 06, 2006 4:38 PM

    Its greating having my camera phone. It is another tool to be used against shills like David Lereah and John Marcell.

    ReplyDelete
  4. AnonymousJanuary 06, 2006 4:59 PM

    Looks like Conn in the late 80s when the martket was crashing. You couldn't go down one street without seeing two or three for sale sign per block. I saw it happen in conn in the 80s, the bubble burst there, but this time it will be much worse. I bought my house from a bank for 50k less than the previous owner paid 3 year prior which was a 33% price reduction.

    ReplyDelete
  5. AnonymousJanuary 06, 2006 5:29 PM

    A clarification: It is not 4 rowhouses. Each rowhouse is a condo with (I believe) 2 separate units. So it is 4 units that are available, not the whole house.

    ReplyDelete
  6. Tom GulloJanuary 06, 2006 6:07 PM

    David that photo is classic

    My theory is all the smart money pulled out of real estate and are slowly investing in stocks.

    ReplyDelete
  7. AnonymousJanuary 07, 2006 11:54 AM

    How many people in DC make how much money?

    We hear about all these GS-14s and GS-15s and high level lawyers and lobbyists, but how many are there actually?

    I think I remember (very vague- could be way off) some stat about the average government worker making like 70-80K in the DC area. So there aren't that many people making enough to afford 400K homes, are there?

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  8. MetroplexualJanuary 08, 2006 12:20 PM

    Previous Anon,

    They don't all work in Gov't. Lobyist lawyers and in Fairfax you have the internet and all of the Homeland Security based companies. his is a very wealthy region. And 70-80k aint bad for govt work.

    ReplyDelete
  9. AnonymousJanuary 08, 2006 8:27 PM

    No, it isn't. But is it enough, and are there enough earners, to support a market where condos are 400K and houses more than that?

    ReplyDelete
  10. Fred FryJanuary 08, 2006 10:41 PM

    Here is my collection of pics of 'reduced' signs.

    Was renting in DC. Now happily renting in VA.

    DC Housing Bubble: Popped

    ReplyDelete

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