Buggy: Is there a real estate “bubble” in the D.C. realty market? If so, has it burst?
A real estate “Bubble” is the state in which home prices are highly inflated, and is characterised by a high proportion of investors buyers with the intent to “flip” thier invetments in a short time. This causes homes to spiral out of reach to many buyers.
Answers and Views:
Answer by Jinx U
I talked to a co-worker’s husband who happens to be a real estate agent at the recent company holiday party. In short, his answer was yes, there is a bubble and that the market really is cooling considerably.
I think the rapid appreciation has come to an end. I think most people agree on this. I personally think it will be followed with a period of low to no housing appreciation. I think there may be some actually price decreases in the outer suburbs and the condo market. I think houses and townhouses are probably a little safer.
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