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Affordability could be an issue in the Washington area housing market

By Patrick   Follow   Tue, 5 Jun 2012, 3:07pm   546 views   3 comments
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http://www.washingtonpost.com/blogs/where-we-live/post/affordability-could-be-an-issue-in-the-washington-areas-recovering-housing-market/2012/06/04/gJQAeot7DV_blog.html?hpid=z3

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1. rootvg Follow Befriend (8) 1 threads 792 comments Danville, CA Premium

   1   3:09pm Tue 5 Jun 2012   Share   Quote   Permalink   Like   Dislike   Protected   Affordability has always been an issue there, primarily because there's a lot of demand for housing, there's a ton of old money and a lot of the jobs don't pay all that well.

2. YesYNot Follow Befriend (2) 15 threads 430 comments Reston, VA

   2   5:19pm Tue 5 Jun 2012   Share   Quote   Permalink   Like   Dislike   DC is funny. I new that prices were high, but did not know that Arlington was at 100% of bubble prices. The line you always hear in this area is that employment keeps growing. VA employment grew 15% in the last 10 yrs. I am guessing, but most of that is probably in the DC region. For comparison, the US as a whole had employment growth of 2%. I think that infrastructure is limited. Traffic prevents people from wanting to commute too far. For some reason, there are big swaths of low density development between Dulles and the the beltline. Maybe it is needed to protect Difficult run (tributary) or maybe it is just zoned that way as a riff-raff buffer for multimillionaires. I would think that over the next 10 yrs as employment opportunities increase elsewhere, people will not put up with such a house price / traffic combination here. You can look at the employment data here: http://www.bls.gov/eag/eag.us.htm

3. zzyzzx Follow Befriend (9) 416 threads 4,138 comments Baltimore, MD

   3   6:28am Wed 6 Jun 2012   Share   Quote   Permalink   Like   Dislike   I know a bunch or people who live in PG county and I can personally verify the 50% price drop in PG County as per the article's chart.