Houses, Homes

A family in the DC area has decided to buy a house near or in my mom's Takoma Park nabe, and they are blogging their search at Slate. Why are they buying now when prices so clearly have so much further to fall? I would be waiting it out in a rental...I was surprised to see little or no sentiment to that effect in the discussion in the Fray. I keep an idle watch on homes in the area. They have been very late to drop in comparison with other places, but that just means there are bad days ahead, not that greater DC is immune to the bursting of the bubble. And a sad and sobering tale from the same area, this Washington Post article about a homeless family is worth a read. Their lives unraveled from middle-class to homelessness in a hurry.

Comments

[The Modesto Kid]

so much further to fall

Shh! We're trying to think happy thoughts over here dude.

[Paulie Carbone]

That story about the homeless family really is a cautionary tale about the lack of compassion in late capitalist society.

[Ken Houghton]

The late drop might be an indicator that things won't fall that much, actually.

Don't confuse averages with absolutes: if the area is sustainable even in a downturn (as many places around D.C. are), the drop may not be so much.

[Paulie Carbone]

Homelessness On Rise, Experts Say

[Bloix]

For price trends in Silver Spring:
http://www.thesilverbee.com/silver-spring-and-takoma-park-market-trends/