Sign of real estate market escalation?
I found this flyer in the gutter on 2nd Street NE. It's the kind of flyer-sign that was typical of the go-go real estate "era" of a few years ago.
While the DC real estate market is rebounding ("The real estate market that defies trends" from Time Magazine) although many people who bought at the peak of the market probably can't sell their houses for a profit, I am still pretty worried about the overall strength of the market, given the likely shrinking of the federal government ("Washington region at risk of losing 450k jobs" from the Examiner), the impact of recession in Europe on the number of international tourists visiting the Washington metropolitan area, economic cooling in China, and turbulence and instability within DC's governance systems.
Labels: real estate development, real estate market, urban revitalization
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