legsdiamond Member since May 05th 2011 79616 posts
Tue Aug-18-15 03:04 PM
1. "not unless it all falls down again..." In response to Reply # 0
too many government contracts for DC to burst.
I'm wondering the same thing in Charlotte. The amount of condos, high rises and apartment complexes are sky high.
Not sure there are enough bodies to fill them
**************** TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*
Childless people don't want to live in the burbs anymore. The most common occupation in the district is attorney, so there's plenty of money in the city. Also, height restrictions limit the amount of new housing units, so developers can't go too crazy.
15. "they count when the city is counting vacant units" In response to Reply # 12
they separate "vacant, available", "vacant, unavailable because of renovation status" and "Vacant, unavailable because of occasional, seasonal or recreational use".
16. "How would the city know?" In response to Reply # 15
If a unit is "Vacant, unavailable because of occasional, seasonal or recreational use" because it's owned by a Russian Billionaire who changes drawls there twice a year?
I think dude is way off with his 68% vacancy stat.
> >
********** "Everyone has a plan until you punch them in the face. Then they don't have a plan anymore." (c) Mike Tyson
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20. "surveys" In response to Reply # 16 Wed Aug-19-15 06:06 PM by Jay Doz
not saying the OP's #s are right, but vacancy surveys are done by federal government both quarterly and annually. i imagine localities aren't any different
------- "A man who is good enough to shed his blood for his country is good enough to be given a square deal afterwards. More than that no man is entitled, and less than that no man shall have." - TR
Rates are really low, homeownership is the lowest in decades, standards are tight on credit... and in DC, alot of purchases are in cash, often by international investors.
I think prices are going to plateau, if they haven't already, just because the Fed is going to start raising rates within the year, and the higher interest rates will start to hurt buying power.
13. "Nah. Too much turnover in residency" In response to Reply # 0
Being a transient city, there's always people coming and going, regardless of how the economy goes. The prices may rise or fall to suit the economy, but by and large it's not going anywhere. There is a lot of new development, and a lot of new condo projects hitting the market, which may skew the vacancy numbers a bit. But while it may (and has) slowed a bit, I don't see it crashing. I've worked in real estate title for almost 15 years, mainly in DC, and even when the bottom fell out, DC wasn't affected nearly as badly as the surrounding metro areas
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Jay: Look here homie, any nigga can get a hit record. This here is about respect. Game: Like Gladys Knight. Jay: Aretha Franklin. Game: Word, I like her too. Jay: Nigga...
19. "Ridiculous, Just saw a Condo near potomac ave SE" In response to Reply # 0
The windows faced a brick wall of a house in reconstruction.2bd/1ba The bathroom had no tub and their were cracks all over in the walls and cieling. $325k.
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