Econo-Girl employed the surest methodolgy for testing the local real estate market. She walked around Washington neighborhoods looking at houses that were for sale.
Good news, little dumplings! House and condo prices are starting to fall. Noticably fall.
Granted, we are talking the Washington, DC market and not necessarily all real estate in the land. But it is beginning to happen. A nice, two bedroom house has been on the market for over a week when it is going for $289,000. In DC terms, that's a steal.
Don't buy a condo or house in the next six months. You heard it here first.
4 comments:
This may be off topic, so I apologize in advance...
However, in your subtitle, Econo-girl, capitalist is misspelled (captialist).
Yes, the bottom is starting to fall out; it will accelerate before too long and many of those who were looking to get rich quick will suffer. Next time they should earn their money, stop trying to get rich quick and be paid because of their work.
Thanks for the copy editing, Anonymous. I'll get that spelling corrected in about a month, knowing me.
Yeah, it's the 'get rich quick' impulse that get people. I liken it to gambling, something which scares me a lot.
Gambling to me is just a form of entertainment. Seeing as how all entertainment tends to cost you something, slot machines are the same as (insert your favorite entertainment activity here).
I always figure that I am not going to win squat. That way, when I do not win squat I am not too upset. And if I do win, it is like finding free money.
But I will not buy any houses. I want to buy a jet-ski first.
I promise you, Iggy, that a jet ski would be more fun.
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