I’m still seeing fixer-uppers in the $100-200k range in Trinidad. But I’d call this a result of gentrification rather than a bubble per se. Guessing that SE across the Anacostia bridge will be next.
As with NYC, DC prices didn’t drop all that much after 2007-8. DC is becoming safer, gov’t jobs are available (we’ll see about sequestration), and commute times from the suburbs are obscene. All this argues for people living in the city if they work there, so there’s upward pressure on values.
Buy something in a “bad” area of DC, wait for it to go up, then either sell or rent it to a parasite. In short, assfuck them hard while twisting, and make money off THEIR blood, sweat, and tears.
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