You can still buy cheaply if you buy in a neighborhood that’s “changing.” And foreclosures have actually gone up 50-75% since the sequester began, so prices aren’t really going up anymore for the time being.
“Following the gheys” isn’t always profitable — there’s a little city on the NJ coast, Asbury Park, which is sort of a ghetto. Think Oceanside with an even less nice downtown. About 10 years ago, everyone said, “buy there, the gays are moving in” — well 10 years later, it’s still improving but hasn’t improved much apart from one tiny area 🙂
DC is more of a case of following the govno-mint workers. Much of the rise actually happened under Dubya Bush, who massively scaled up the size of government.
