4 ms·
I bought a house in DC in 2006 and my home's value never really fell, it just went flat for a year or two. Very different from the overheated markets like Las V
by dwater 4y ago
I bought a house in DC in 2006 and my home's value never really fell, it just went flat for a year or two. Very different from the overheated markets like Las Vegas that lost 30%+ and took years to recover. There were a lot of foreclosures in my neighborhood in 07/08, but that didn't crash prices, it just boosted the volume of sales.
- thunky 4y agoNot saying you're lying but DC home prices overall are down 14.7% YoY, and may have only just begun. https://www.redfin.com/city/12839/DC/Washington-DC/housing-market https://www.redfin.com/city/12839/DC/Washington-DC/housing-m...
- mattgreenrocks 4y agoGood. The pandemic price bubble could not last, and it outpaced wage growth quite a bit. As a property owner, I fully expect property values to slowly deflate to reality, however that's still going to be higher than they were pre-pandemic, and eventually slowly increasing again.
- actionablefiber 4y agoMeanwhile: Arlington, VA (where HQ2 is) says +1.1% YoY. Some wild volatility on those charts from the past year... https://www.redfin.com/city/21282/VA/Arlington/housing-market https://www.redfin.com/city/21282/VA/Arlington/housing-marke...
- deleted 4y ago[deleted]
- TheCoelacanth 4y agoA drop in median sale price doesn't necessarily mean that the price for a specific house dropped that much. Some of that is probably just people holding off on buying or selling higher-end houses.