It is going to get alot worse...
I disagree. It will get a lot better after Christmas, esp. for existing homes.
I really can't imagine the market in DC having a difficult time
on my street when i am in DC, there are so many 'for sale' signs on houses that are purely speculative (the owner is just slapping a sign on to wait for a tempting enough offer)
it kinda seems like every half-wit thinks that they can sell their house to finance an early retirement!!
these people playing (speculating) are the reason DC will probably have a slow time for a while (i imagine fall and winter will be slower than usual) but with the fed govt and sheer magnitude of employers, i completely agree with the line in the article that says that DC is the most insulated market in the country.
what do u guys think about DC's market?
I moved into, and out of, the Washington, DC housing market several times over about a 20 year period. I've seen it stall, and plateau out before, and saw prices drop once - in late '90, early '91. But some of the prices being quoted in the WaPo article, in neighborhoods with which I am familiar, are actually unhinged from reality.
I believe significant price declines in the metro DC market are not only possible, but extremely likely going forward. Fortunately, I am not in that market at the moment. As for other markets, who knows?