the DC regionals bubble

[patb]

http://www.redfin.com/DC/Washington/1132-Neal-St-NE-20002/home/10096418

this area used to be an awful slum, now it’s a transition zone but still,
even 2 years ago you could get places there for under 100 K.

now they are selling flips for 500K and getting above ask?

i’m seeing lots of bubble signs in DC, and worse, i’m seeing more inventory
coming on market.

[spdrun]

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.

[no_such_reality]

All hail Rome!

[paramount]

Exactly, as mentioned here a couple of weeks ago, DC RE is a bubble inflated by the blood, sweat and tears of the rest of the country. Makes me sick.

[spdrun]

Best revenge is living well…

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.

[Author]

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