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The truth about Case-Shiller and the DC area
 
For my hometown sports fans and real estate noodlers, this piece from John MacArthur in the DC area explains why Washington and Seattle are good to go. Well, the Nationals have some work to do...just saying.
 
This morning's Washington Post ran a story titled "Home prices take a double dip".  The story was stock coverage about the most recent Case-Shiller report.  The big news was that the long forecast "double-dip" in prices seems to have occurred. There were only two exceptions, Washington DC and Seattle, Washington.
          Ken Rapoza at Forbes.com shared "You know that $400,000 house you want to buy; offer them $350,000. If they don’t take it now, they will soon enough."  That is an understandable reaction to housing prices that have begun to fall again.  The advice probably won't work in the DC area and it won't work in Seattle either.
          Jobs are the steroids that create a booming housing market.  DC has jobs. The Seattle area has jobs.  One has the Federal Government and the other has the defacto internet government.  While the rest of the nation suffers from "steroid" loss (see Barry Bonds, Manny ... more

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