The End of the Bubble for DC (Panic Edition)

[JD984]

Originally Posted by DCforever

The number is about 70 thousand of 1/2 million federal employees in the immediate area (DC, Arlington, Fairfax, Montgomery, and Prince Georges.) As I said federal employees are not a factor in DC real estate.

Few would go so far as to contend federal employees are not "a factor" in DC real estate, either within DC proper or the surrounding jurisdictions. Guess you're one of them. Whether the sky would fall in terms of market values if some federal employees who live in DC get furloughed is a different issue.

[DCforever]

Originally Posted by JEB77

Few would go so far as to contend federal employees are not "a factor" in DC real estate, either within DC proper or the surrounding jurisdictions. Guess you're one of them. Whether the sky would fall in terms of market values if some federal employees who live in DC get furloughed is a different issue.

The few who understand economics would.

[pgm123]

Originally Posted by coldbliss

But poverty is getting pushed to the suburbs.

Demography: Broke in the

I fail to see how urban renewal is a success story when the problem of poverty and inequality simply moves from one location to another.

It could potentially make things worse if you strand the poor away from the job centers. This is the problem that Detroit has had because the jobs are in the suburbs, but people oppose investing in public transportation that will take poor people to the jobs. DC is a little better in this regard because there is a good transportation network.

And ironically, I am seeing more 20-somethings locate in the suburbs in Maryland and NoVA. Why? Because the rents and cost of living in DC are too exorbitant. Even with rising gas prices and car payments, some young professionals are opting for the less dense inner suburban lifestyle because the math comes out in favor of The Burbs. At least they have a better opportunity of affording a one-bedroom or studio apartment for themselves.

I'm moving from Northern Virginia into DC because my rent will be roughly half of what I'm paying now. I'm not the most usual case (I'm getting a rent-controlled apartment that's vastly undervalued), but I still find it cheaper to move into DC than where I'm living now. I could go further away into Virginia, but I don't plan on having a car, which would make things pretty difficult.

And let's not forget that muggings, car break-ins, violent random assaults and street sexual harassment are bigger problems in The District than say Arlington County or Montgomery County. The iPhone/iPad yuppie crowd living in Logan Circle make a delicious target for criminals. At least when I eat outside a restaurant in the borrrring suburbs, I won't have to worry about getting robbed at gunpoint during my dinner. Safety (peace of mind) still matters for some people.

This is definitely true. This doesn't worry me too much as it's a very rare occurrence and I have nothing worth stealing (hooray for brick phones), but this is definitely an issue for some.

Seems to be that the affluent and upper-middle class professionals are driving the urban prosperity bus and the middle-class passengers are having trouble paying the fare. And Richard Florida can kiss my azz.

I don't see this as true.