Washington DC Bubble? The Debate Rages

We’re a victim of our own success. A little less than three years ago I wrote an entry to this blog, titled “Washington DC Bubble?” that was fueled off of a return visit to D.C., where I lived for nine years (’89 to ’98). We were visiting old friends over Spring Break, and one of the houses next to my old place was on the market – for more than $500,000! (We’d sold our house for $228,000 in late 1998.) I went through the Nine Levels of Sellers Remorse, unable to believe how much money we’d “left on the table,” but after I calmed down, and did more thinking and more research about the DC housing market, I came to this inescapable conclusion: The Washington market was a big soapy bubble that at some point would pop. I penned that entry, was quickly taken to task by Washingtonians who didn’t agree with my view, and the battle was joined. That thread became the most followed in the history of Hot Property – with, as I type this, nearly 1,300 entries! But we’ve gotten complaints from some followers of the thread that it’s become too unwieldy – that it can take forever for the full page to load. We consulted with our programmers to see if they could chop the thread’s comments into three different entries, but they couldn’t. So there’s only one solution: I’m starting a new thread, “Washington DC Bubble? The Debate Rages” and ask that you post comments here.

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