tag:blogger.com,1999:blog-13164186.post115211512389998653..comments2024-01-27T19:26:32.604-05:00Comments on Bubble Meter: Bubblicious PlanterDavidhttp://www.blogger.com/profile/11169148764438565562noreply@blogger.comBlogger51125tag:blogger.com,1999:blog-13164186.post-1152302264231130412006-07-07T15:57:00.000-04:002006-07-07T15:57:00.000-04:00anon said- "When I'm home, I don't like feeling li...anon said- <BR/>"When I'm home, I don't like feeling like I'm under a microscope--which is what living with a 20 foot glass wall would be like."<BR/><BR/>you might make some interesting friends ... think how much money you'd save by not having to go out on a date before inviting someone home! <BR/><BR/>though, me thinks it is usually those who have nothing to worry about that worry the most ... i have this really fat sister-in-law who is always going on and on about how she is afraid she is going to get raped, and how terrible that would be, and how she carries a spray ... i can tell you that spray will never get used ...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1152299858166997692006-07-07T15:17:00.000-04:002006-07-07T15:17:00.000-04:00Ha, far from the Unabomber. If you've ever walked...Ha, far from the Unabomber. If you've ever walked by the units, you'd know what I was talking about. I take it you always walk around your place fully clothed, looking presentable? When I'm home, I don't like feeling like I'm under a microscope--which is what living with a 20 foot glass wall would be like.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1152298951224800272006-07-07T15:02:00.000-04:002006-07-07T15:02:00.000-04:00anon 11:14 said -"And on the other, Church Street ...anon 11:14 said -<BR/>"And on the other, Church Street side of the building, the two-level loft units on street level are completely open to whomever walks by. I guess you have to be an exhibitionist or someone who likes living behind closed blinds 24x7 to appreciate living in such a zero-privacy, overpriced, cramped shoebox."<BR/><BR/>Sounds like you should be living in some cabin deep in the woods so no one will see you. You any relation to the UNABOMBER?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1152296080101826012006-07-07T14:14:00.000-04:002006-07-07T14:14:00.000-04:00I toured one of the Church Street units last fall,...I toured one of the Church Street units last fall, and came away very unimpressed. I believe it was in the 1401 building--1 BR "loft." The unit was situated on the back side of the building, directly across an alley from another condo building. The person in the condo across the alley was almost close enough to reach out and touch the Church Street condo. Of course, since it was a "loft", they could see all of the living room, bedroom, and even the bathroom. <BR/><BR/>And on the other, Church Street side of the building, the two-level loft units on street level are completely open to whomever walks by. I guess you have to be an exhibitionist or someone who likes living behind closed blinds 24x7 to appreciate living in such a zero-privacy, overpriced, cramped shoebox. <BR/><BR/>Or maybe you just have to convince yourself that you live on the second coming of Broadway (hilarious!) and that real estate in DC never goes down.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1152283011043068842006-07-07T10:36:00.000-04:002006-07-07T10:36:00.000-04:00What, no response from John Fontain? Too bad.What, no response from John Fontain? <BR/><BR/>Too bad.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1152240393249006202006-07-06T22:46:00.000-04:002006-07-06T22:46:00.000-04:00DC Housing News said... "Wasn't me that posted. I ...DC Housing News said... <BR/>"Wasn't me that posted. I was busy at work today. What were you doing blogging away all day during normal work hours, Lance?"<BR/><BR/>some of us can multitask ... and aren't being paid by the hour ... <BR/><BR/>:)Lancehttps://www.blogger.com/profile/12216089306021385355noreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1152221152084628182006-07-06T17:25:00.000-04:002006-07-06T17:25:00.000-04:00david can see himself living on church street; wha...david can see himself living on church street; what he doesn't know is that he never would be walking around there in the first place if people hadn't bought properties around there long ago and saw them appreciate by 400% in the last ten years. David, it was a ghetto, and eveyone knows that is the last place you'd call "nice". If you had vision you'd buy in a similar neighborhood that hasn't become a destination for white suburban group-home dwellers like yourself. But you lack vision, so enjoy your suburban group house.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1152215149552491722006-07-06T15:45:00.000-04:002006-07-06T15:45:00.000-04:00Anonymous said... "Yes the DC housing market will ...Anonymous said... <BR/>"Yes the DC housing market will always go up because the federal government will keep spending money and the employment will always be there despite trillions of deficit. There is no bubble in DC whatsoever."<BR/><BR/>Bill, Why are you still posting after David asked you not too. And you can't hide behind "anon" ... Your words/story lines give you away. They never change, never alternate. You have a fairly limited lexicon in the end, and that is your "signature"!Lancehttps://www.blogger.com/profile/12216089306021385355noreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1152214863060957232006-07-06T15:41:00.000-04:002006-07-06T15:41:00.000-04:00Yes the DC housing market will always go up becaus...Yes the DC housing market will always go up because the federal government will keep spending money and the employment will always be there despite trillions of deficit. There is no bubble in DC whatsoever.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1152210977376350382006-07-06T14:36:00.000-04:002006-07-06T14:36:00.000-04:00Nathan Boggs said... "I have always admired church...Nathan Boggs said... <BR/>"I have always admired church st. It has always been one of my favorite streets. If I had the wherewithal to live there, I would buy a condo there in a NY miunute. Count me as one investor/homeowner that will be ready to at least create a floor on the prices in that area if they fall. Any nice condo in that area that falls within my range, I am a buyer. I am sure there are many people in this area just like me. As such, we serve as a floor on the real estate prices falling too much."<BR/><BR/>Yours is a well reasoned post in response to Anon's well reasoned reply to J.F. May I suggest that you really might be able to afford that condo you want now? If I were in your shoes, I'd do some googling on what was out there for sale, and then using tax records contact some of these owners directly. You can find out what is out there by going on anyone a of number of realtor's sites linked to the MLS database (www dot tomwelch dot net is one --- replace the "dot" with a "." and leave out the spaces.) And of course for names and mailing addresses of property owners check out the property assessments in dc.gov . With all the talk of falling prices now, I would think that with a little homework and a lot of legwork you could find that place you want now and not have to wait.<BR/><BR/>Best of luckLancehttps://www.blogger.com/profile/12216089306021385355noreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1152209747070971142006-07-06T14:15:00.000-04:002006-07-06T14:15:00.000-04:00Of course, the question is, what's the floor? I'm ...Of course, the question is, what's the floor? <BR/><BR/>I'm a buyer too, but for me, I'm looking for a large-ish two bedroom condo for $300k (with parking).<BR/><BR/>(And yes, I'm not holding my breath.)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1152209462098880222006-07-06T14:11:00.000-04:002006-07-06T14:11:00.000-04:00it is a nice street. :-)it is a nice street. :-)Davidhttps://www.blogger.com/profile/11169148764438565562noreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1152206250626701482006-07-06T13:17:00.000-04:002006-07-06T13:17:00.000-04:00SMACK DOWN ALERT!SMACK DOWN ALERT!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1152203383238312362006-07-06T12:29:00.000-04:002006-07-06T12:29:00.000-04:00John Fontain: You don't get it. Taking a financia...John Fontain: <BR/><BR/>You don't get it. Taking a financial hit is not pleasant, but it is "easy", in the sense that it is completely manageable, if you have assessed the risk of it and planned accordingly. In other words, there is a difference between mindless "rationalization" and rational economic planning, and you might do well to study the difference. <BR/><BR/>And, needless to say, resorting to ad hominem attacks doesn't make the argument advanced by the picture in this post any stronger. The premise of the post was that the 1400 block of Church is bubblelicious. My contention is that the picture is devoid of context and that the particular block photographed is unlikely to see property values COLLAPSE, even if they do stagnate or decline some in real dollar terms, and that I don't particularly care about the latter scenario because I'm staying for the long haul and because I have calculated that risk into my purchase. My argument is based on personal knowledge of the kinds of people who buy and live here, my observation of the local market during the time that I searched for property and have lived here, and my belief (which I admitted is probably biased) in the future of the neighborhood. <BR/><BR/>Contrarily, your beliefs are based on a sickeningly perverse dogmatic faith that the entire national housing market will collapse all at once (despite the fact that even in past historic housing downturns, certain areas have gone up in value, and EVEN PARTICULAR AREAS WITHIN BUBBLE ZONES have held value or appreciated for one reason or another). The simplistic decontextualized blandness of your argument is similar to the naivete of NAR promises that real estate values always go up. Just as that is false, so is it wrong to think that when the bubble "bursts," all prices will decline uniformly everywhere.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1152201209315994762006-07-06T11:53:00.000-04:002006-07-06T11:53:00.000-04:00anon 7:35 said - "Those who must sell will probabl...anon 7:35 said - "Those who must sell will probably have a fairly easy time selling (even if they have to take a financial hit in the process)."<BR/><BR/>and <BR/><BR/>"Most of the people who live on this street aren't really going to care if condo values plummet over the next five years."<BR/><BR/>Taking a financial hit is "easy?" Since when? People don't care if values plummet? Give me a break!<BR/><BR/>You know we're heading for trouble when recent condo buyers have talked themselves into thinking things like this. This is a psychological defense mechanism called rationalization.<BR/><BR/>Last time I checked, rationalization doesn't prevent bubbles from bursting.John Fontainhttps://www.blogger.com/profile/00246801870171720131noreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1152200726093420562006-07-06T11:45:00.000-04:002006-07-06T11:45:00.000-04:00I think the guy who posted that lives on Church st...I think the guy who posted that lives on Church street actually gave quite a legitimate response to the picture of the lockbox.<BR/><BR/>I believe there are definitely bubblelicious buildings in DC (Quincy Court comes to mind big time, there's a realtor there who's actually trying to sell two units at once) but like the writer said context is everything.<BR/><BR/>I actually walk through that part of Church street and think that that block has done a unique job in terms of creating a nice cozy one way street with condo buildings on either side and it is a good location.<BR/><BR/>I think the initial "coolness" of that block has been eroded away with too many buildings that look the same (you can only have one or two modern buildings before overdoing it, which is what's happened), but still it doesn't change the fact that it's still one of the better condo blocks in the city.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1152199923679810042006-07-06T11:32:00.000-04:002006-07-06T11:32:00.000-04:00Anonymous asked: "To anonymous 7:35,You seem to fo...Anonymous asked: <BR/>"To anonymous 7:35,<BR/><BR/>You seem to follow Church street awfully closely, for not really caring/being in it for the long haul/not being a realtor. <BR/><BR/>A lot of what you said makes sense--but the question is, why do you care so much? This one blog isn't going to change anything. (And yes, some people here are deluded.) <BR/><BR/>The market will be what the market will be."<BR/><BR/>If you owned your home, you'd understand why the poster follows so closely where he lives and cares about what happens there. It's the old commitment issue ... one is more apt to care about something or someone once one has been formally committed to them/it. There's a reason why Congress offers so many tax advantages to owners. Owners are committed to their homes, neighborhoods and cities. They are frankly better citizens because their fortunes (monetarily and perhaps more importantly non-monetarily) are tied to what becomes of their homes and neighborhoods. They are also more stable. There's a transformation that an indivual/couple experience when the buy that isn't explainable to someone who hasn't known it. Renter tend to just lookt at everything in terms of dollars and "objectively" in that they feel they an always just shuffle along to somewhere else if the going gets tough where they're at. And what they're not understanding is that one gets what one gives. This poster obviously enjoys being part of a community that together are transforming a once barren decaying area into one this cities most happening areas. A place that will help make DC and equal to places like Manhattan in the long term. Imagine owning a condo right near Broadway? Well, that's what this guy has bought himself ... and it's all within a 10 min walk of DC "financial" heart, K Street. HE doesn't live in a box like many renters do. HE lives in a neighborhood! And the condo and the neighborhood are HIS ... he's not just rambling through as so many renters do.Lancehttps://www.blogger.com/profile/12216089306021385355noreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1152199710521558162006-07-06T11:28:00.000-04:002006-07-06T11:28:00.000-04:00Oh wait, I stole that from Anon 7:35.Oh wait, I stole that from Anon 7:35.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1152199610123794822006-07-06T11:26:00.001-04:002006-07-06T11:26:00.001-04:00Sure...I've got more where that came from. How abo...Sure...I've got more where that came from. <BR/><BR/>How about: "Markets go up, and markets go down." ?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1152199603756570902006-07-06T11:26:00.000-04:002006-07-06T11:26:00.000-04:00Anonymous 8:18 AM said... You seem to follow Churc...Anonymous 8:18 AM said... <BR/><BR/>You seem to follow Church street awfully closely, for not really caring/being in it for the long haul/not being a realtor. <BR/><BR/><BR/>I follow it closely because I live here and am intellectually interested in the housing market. I care about my neighborhood. Wouldn't you? <BR/><BR/>When I say that I don't "care" if values decline, I don't meant that I don't care at all. I just mean that it doesn't matter to my overall financial well being. I'm staying, and if I have to go, I can rent the place to cover far beyond what my mortgage/tax/upkeep costs are.<BR/><BR/>As for this blog, I've read this blog now for a while because it's interesting to me. I like to read opposing viewpoints. What I can't figure out is why "bubbleheads" need to read a blog to confirm what they believe is already gospel. It'd be like an evangelical logging in daily for more evidence that Christ is, in fact, King. I just don't get it.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1152199527443844232006-07-06T11:25:00.000-04:002006-07-06T11:25:00.000-04:00Anony at 7:35 gave David quite a smackdown. Maybe ...Anony at 7:35 gave David quite a smackdown. <BR/><BR/>Maybe the guy/girl cares because he/she would like to correct David's implicit message via his photo. <BR/><BR/>Or maybe he just wanted to give David a dose of STFU. <BR/><BR/>I dunno. But it was quite refreshing to have a response to David's photos by someone who actually lives in that area and can provide actual context to the photo.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1152199457436154222006-07-06T11:24:00.000-04:002006-07-06T11:24:00.000-04:00"The market will be what the market will be"Wow! ..."The market will be what the market will be"<BR/><BR/>Wow! What amazing insight! Can I offer you 100K consulting job?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1152199124197494462006-07-06T11:18:00.000-04:002006-07-06T11:18:00.000-04:00To anonymous 7:35,You seem to follow Church street...To anonymous 7:35,<BR/><BR/>You seem to follow Church street awfully closely, for not really caring/being in it for the long haul/not being a realtor. <BR/><BR/>A lot of what you said makes sense--but the question is, why do you care so much? This one blog isn't going to change anything. (And yes, some people here are deluded.) <BR/><BR/>The market will be what the market will be.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1152198806007470022006-07-06T11:13:00.000-04:002006-07-06T11:13:00.000-04:00I accidentally sold high last year (No great insig...I accidentally sold high last year (No great insight, just had to move for work), and now I'm sitting on my equity here in DC, trying to figure out what to do.<BR/><BR/>What gives me my daily migraine is the number of condo sellers trying to disguise crappy shoebox sized apartments as "homes." Technically, they're right, but it's getting worse and worse every day. You have to read the entire ad before there's even a hint that it's a condo. And Hilcrest is not my idea of Capitol Hill, either.<BR/><BR/>I'm currently renting a "TOTALLY RENOVATED CAPITOL HILL TOWNHOUSE IN TRENDY EASTERN MARKET NEIGHBORHOOD!!!" Lousy workmanship, multiple leaks, the landlord never finished the backyard, which is a mud slurry, and the laminated floor panels are secured with finishing nails. Nothing is level (the soap slides off the lavs, and the refrigerator door won't open completely), and the water pressure is so low that the JACUZZI GARDEN TUB is a complete joke. The fellow in the ENGLISH GARDEN BASEMENT APARTMENT has been flooded out 6 times in 6 months.<BR/><BR/>Yes, renting this place is my fault, but it's close to the Metro. I'm not going to jump into any purchase until it's absolutely necessary, and at this point, I'd rather find a house that's in good shape (roof, foundation, etc) than one that's been "renovated."<BR/><BR/>Flame if you must. I'm just venting.delilahboydhttps://www.blogger.com/profile/12634057377361017727noreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1152197988734915252006-07-06T10:59:00.000-04:002006-07-06T10:59:00.000-04:00Anon 7:35,You actually have the NERVE to present y...Anon 7:35,<BR/><BR/>You actually have the NERVE to present your point of view as someone who actually *lives on that block*?!?<BR/><BR/>Come on, David rents a group house in Silver Spring, "loves DC", and posts only unbiased photos of the city he loves.<BR/><BR/>He might even buy your place at a 75% discount from what you paid. Be nice or he'll do it.<BR/><BR/>How dare you...Anonymousnoreply@blogger.com