Originally posted by Bags:i shudder to think of government web crawlers logging my IP address as we speak …. i'm just saying that if something big happens, it could depress the real estate market … who knows if it will or not …
But there wasn't last time…are you thinking of something huge, focused on DC?
Why my life in 1 bedroom NWDC apt is more meaningful th
I'm not arguing, ggw, I'm asking. I am *far* from an economics theory literate person, and I do not enjoy following any of this.
My situation is that I make a relative good income, and am having real problems (I've had employment fluctuations and changes that kept me from buying 5, 4, 3 years ago – as everyone says now, I should have done it anyway, but it wasn't necessarily insane that I didn't).
I ask every day, how can this go on. I'm not looking for a place to build my wealth from, to use for equity down the line, etc (I would never consider an interest only loan, but I know how many folks are doing that…). I need a place to live that will get me out of my current tax situation. And hopefully it will appreciate.
Blech, I keep swearing I won't keep talking (or asking) about this, but it's hard to avoid.
I do, though, still believe DC was undervalued for a good decade or so, and see some of this as a normal course correction.
My situation is that I make a relative good income, and am having real problems (I've had employment fluctuations and changes that kept me from buying 5, 4, 3 years ago – as everyone says now, I should have done it anyway, but it wasn't necessarily insane that I didn't).
I ask every day, how can this go on. I'm not looking for a place to build my wealth from, to use for equity down the line, etc (I would never consider an interest only loan, but I know how many folks are doing that…). I need a place to live that will get me out of my current tax situation. And hopefully it will appreciate.
Blech, I keep swearing I won't keep talking (or asking) about this, but it's hard to avoid.
I do, though, still believe DC was undervalued for a good decade or so, and see some of this as a normal course correction.
Originally posted by HoyaSaxa03:As Bagster said, it has already happenned and prices went way, way up.
Originally posted by Bags:i shudder to think of government web crawlers logging my IP address as we speak …. i'm just saying that if something big happens, it could depress the real estate market … who knows if it will or not …
But there wasn't last time…are you thinking of something huge, focused on DC?
Originally posted by Bags:you also cant think of DC as a whole. neighborhoods in cities are all different. and even if/when a "bubble bursts" certain trendy neighborhoods will remain highly competetive with prices remaining out of control.
I do, though, still believe DC was undervalued for a good decade or so, and see some of this as a normal course correction.
buying a place in Baltimore seems safe to me, considering that "bubble" will probably burst first in DC, plus when all those people cant afford thier houses in DC….where do you think they'll be coming…..
Northern Virginia
Originally posted by sonickteam2:
Originally posted by Bags:
[qb]
plus when all those people cant afford thier houses in DC….where do you think they'll be coming…..
Originally posted by Charlie Nakatestes, Japanese Golfer:
Northern Virginia
Originally posted by sonickteam2:not everybody is content with the suburbs.
Originally posted by Bags:
[qb]
plus when all those people cant afford thier houses in DC….where do you think they'll be coming…..
but sure, some will take it up the ass and move to suburbia.
I do, though, still believe DC was undervalued for a good decade or so, and see some of this as a normal course correction.I agree
Somehow I think more city lovers end up "settling" for a cheaper place in the burbs than moving all the way up to Baltimore. I don't think that would somehow change.
Originally posted by sonickteam2:
Originally posted by Charlie Nakatestes, Japanese Golfer:
Northern Virginia
Originally posted by sonickteam2:not everybody is content with the suburbs.
Originally posted by Bags:
[qb]
plus when all those people cant afford thier houses in DC….where do you think they'll be coming…..
but sure, some will take it up the ass and move to suburbia.
Originally posted by Charlie Nakatestes, Japanese Golfer:maybe more on perecentage, but MANY DC residents are moving to Baltimore as we speak.
Somehow I think more city lovers end up "settling" for a cheaper place in the burbs than moving all the way up to Baltimore. I don't think that would somehow change.
my GF's mom and friend at work are both real estate agents and are constantly dealing with DC residents looking at Baltimore housing.
if any "bubble" is to burst, my predicition is just that values will stop rising so rapidly and level off…I seriously doubt prices will do DOWN, and buyers would lose money on their real estate investments in this area…unless there was some catastrophic terrorist act or something…in which case, falling real estate prices would be a secondary concern
If we weren't planning on having a child, we certainly would have given it some thought.
Originally posted by sonickteam2:
Originally posted by Charlie Nakatestes, Japanese Golfer:maybe more on perecentage, but MANY DC residents are moving to Baltimore as we speak.
Somehow I think more city lovers end up "settling" for a cheaper place in the burbs than moving all the way up to Baltimore. I don't think that would somehow change.
my GF's mom and friend at work are both real estate agents and are constantly dealing with DC residents looking at Baltimore housing.
Originally posted by Charlie Nakatestes, Japanese Golfer:hahah, you mean Thurgood Marshall Elementary School isnt where you want your child to go! ;)
If we weren't planning on having a child, we certainly would have given it some thought.
There is good reason to believe that to be true (i.e., debt levels are so high that the Fed won't let long-term rates go too high, for fear of inducing a debt crisis), however, home prices have fallen dramatically in this area before (after the 1989 peak), so real estate deflation is a definite possibility.
Originally posted by Celeste:
if any "bubble" is to burst, my predicition is just that values will stop rising so rapidly and level off…I seriously doubt prices will do DOWN, and buyers would lose money on their real estate investments in this area…unless there was some catastrophic terrorist act or something…in which case, falling real estate prices would be a secondary concern
Originally posted by sonickteam2:Depending on where in Springfield Mr. and Mrs. Nakatestes live, Charlie Jr. may end up attending Robert E. Lee High School.
Originally posted by Charlie Nakatestes, Japanese Golfer:hahah, you mean Thurgood Marshall Elementary School isnt where you want your child to go! ;)
If we weren't planning on having a child, we certainly would have given it some thought.
i think if you are a "real estate investor" it is certainly possible for you to be screwed. but if you are talking about buying one house, i dont think so. unless you are one of those who can't afford to pay a rate increase, even if the prices go down, you can either sell and get out without too much loss, or just stay there and wait it out. i dont see people jumping out thier Georgetown windows!!
No, but Rhett Jr. or Celeste Jr. may play them in baseball or cross country…
Or maybe he/she will get the basketball genes from Celeste's uncle, who played basketball at Depaul for Ray Meyer.
Or maybe he/she will get the basketball genes from Celeste's uncle, who played basketball at Depaul for Ray Meyer.
Originally posted by ggwâ?¢:
Originally posted by sonickteam2:Depending on where in Springfield Mr. and Mrs. Nakatestes live, Charlie Jr. may end up attending Robert E. Lee High School.
Originally posted by Charlie Nakatestes, Japanese Golfer:hahah, you mean Thurgood Marshall Elementary School isnt where you want your child to go! ;)
If we weren't planning on having a child, we certainly would have given it some thought.
Originally posted by ggwâ?¢:though that would please my dad greatly, I'm afraid that won't happen, based on our address
Depending on where in Springfield Mr. and Mrs. Nakatestes live, Charlie Jr. may end up attending Robert E. Lee High School.