You left DC, where are you happier? (insurance, home)

[smithy77]

Originally Posted by coldbliss

To be blunt, what is the difference between prostitutes and drug dealers that once hanged out on many K Street corners (If you are a long-time resident, you know what I am referring to) and the lobbyists and contractors who work in the shiny offices at the same locations today?

Prostitutes and drug dealers bring down your property values. Oh, the humanity. The lawyers and contractors rob the nation's treasury in broad daylight. When those scumbags spend their $$$$ at fine DC restaurants and entertainment, ask how they earned that money in the first place. I almost have more respect for the DC pimps and drug dealers in this respect.

Hah. Well------one group screws the country.

[tech2enable]

Originally Posted by coldbliss

I agree with Tech2enable here. Think about the huge population boom in the DC area going back to the 1980s. Although Reagan was a staunch conservative who believed in smaller government, we saw a significant number of new federal govt. jobs created in this area.

Right on, I read somewhere that Virginia politicians were upset when Reagan cut waste in the defense market thereby sending less money to virginia.

Even more noteworthy, has been the explosive growth of federal government contractors. Many government functions were outsourced to the "Beltway Bandit" firms in Northern Virginia. Defense-related jobs were the biggest growth centers. Contractors were begging for qualified engineers and technicians; in response, many people packed their moving vans for DC because of A.) the Job Opportunity and B.) The Generous Income that comes with high-demand professionals.

When the Telecom and Dot.Com Bubbles were brewing in the 1990s, many recent computer science and business grads from around the country flooded the DC area because of the lucrative job opportunities. Many young IT professionals had to choose between Silicon Valley, NYC or NoVa/DC. NoVa/DC wins because of the cost of living was cheaper than in the SF Bay region or New York.

Yes, with AOL, MCI, and others in NOVA.

You had the Next Boom Wave with Homeland Security and the Lobbying Industry during the 2000s. Billions of federal government dollars were flowing to local firms concentrating on anti-terror security and defense. The Iraq and Afghanistan wars showered contractors with more cash. Meanwhile on K Street, the number of registered lobbyists doubled in the DC area during this decade thanks to Republicans selling every inch of regulation to corporations. DC law firm offices experienced a doubling or tripling of staff. Pay raises and bonuses were at insane levels for the DC-based lawyer/lobbyist.

By exploiting 9/11, the Iraq war and Afghanistan, defense contractors became wealthy particular in the metro area of Washington d.c , even time magazine acknowledges this .

Where else in the United States can computer engineers, IT business executives and lawyers make so much money (THE EASY WAY) from the US federal government? People come to DC for the big pay day and a shot to become a influential person. All of those hellish school years of achieving the 4.0 GPA, grueling AP courses, months of SAT test-prep so you can get that 1500 score, and a spot in a blue-chip university--has to pay off some how.

Since housing has gotten so expensive, federal employee wages are not that high due to responsibility of the given job and wages derived.

In the end, if the federal government cuts funding to contractors and outlaws corporate lobbying, you will see so many moving trucks leaving the DC area. Only then, will DC become an affordable place to live. A better quality of life for most people.

I am not sure about that, on the one hand you are right, it may stop the explosive population growth and congestion, and maybe lead to more responsible growth and less real estate speculation. But if the government cuts too much it won't be great, there has to be not so much the balance but the timing.

[tech2enable]

Originally Posted by KT13

And you believe that DC economy will the THE ONLY economy that will be hurt as a result of such drastic cutbacks? do you think about what will happen to the rest of the country? Do you see what happened in NYC when financial markets crashed. Do you believe NYC area didn't benefit from the massive bailouts in the finance industry? So you think that it's fair that Fed spends to benefit the Wall Street but you think it is unjust that Fed spending brings some more jobs to DC area? do you also believe that the entire spending associated with governtment contracting and other is only happening and benefiting DC area in the first place? Like there is no other area in the US, absolutely no other industry that has benefited from the same?

Not true, wall street is not limited to new york city, in the age of electronic banking wall street can be in a lot places, although there are a lot of finance jobs in new york city, other areas such as san francisco, charlotte, chicago, and even parts of florida and many other areas benefit.

Its hard to tell where the bailout money went, if mortgage brokers are secondary employees financed by the banks are employed in states such as nevada and arizona along with florida, those states may have been hit more worse.

Also, new york, new jersey, and Connecticut are donor states to the fed , while Maryland and virginia are not. In that case its hard to argue with the tri-state are being welfare states compared to the DC area.

[tech2enable]

quote=KT13;11272478]I agree. Cheaper COL as a result of vast rapid unemployment and drastic price drops isn't going to make people's lives so much better here or make this area desirable for someone to move to. Look at other areas where the COL have dropped dramatically or where massive unemployment plagues the area as a result of the recession. Do you really think people living there are enjoying their lives more because they can now buy the same house for less? Do you think people are now moving there un-masse to snag rock bottom real estate and get in line for low paying jobs? Do you think someone walking away from their mortgage and losing all their hard earned equity (especially when it's a significant amount of money) is going to do so with the smile on the face?

A lot of people may enjoy that, in fact in loudon county that happened to an extent, even in price william county despite low unemployment and a higher income stable economy.

Low COL and high unemployment places exist today and have always existed. There also were places with higher levels of prosperity and higher COL and there always will be. No industry is immune from the downfall and no city is immune from price reductions, even Manhattan.[/quote]

[KT13]

Originally Posted by tech2enable

A lot of people may enjoy that, in fact in loudon county that happened to an extent, even in price william county despite low unemployment and a higher income stable economy.

So, you are going to enjoy living in a ghetto that DC would turn into if there ever were a mass exodus like some so wish upon the entire DC area?

You know there are other areas of the country where housing costs plummeted dramatically and where you can experience all the joys of crumbling economy. Why don't you try that first at a cheaper cost and then come and report to us.

Higher incomes and low unemployment don't usually go hand it hand with dramatically plummeting housing prices across the board, do they? What happened in the far flung burbs of DC isn't so uncharacteristic to what happened in other cities. yes, prices in farther out areas have gone down, but not so much in premium areas. So, what is your point? it is easier to buy in these places now, but it still doesn't make these areas more desirable or improves people's commute and choice of amenities.

[KT13]

Originally Posted by tech2enable

Not true, wall street is not limited to new york city, in the age of electronic banking wall street can be in a lot places, although there are a lot of finance jobs in new york city, other areas such as san francisco, charlotte, chicago, and even parts of florida and many other areas benefit.

And effects of government spending aren't just limited to DC area, so what's your point?

Originally Posted by tech2enable

Its hard to tell where the bailout money went, if mortgage brokers are secondary employees financed by the banks are employed in states such as nevada and arizona along with florida, those states may have been hit more worse.

The bailout money had allowed a lot of companies to stay afloat and saved a lot of jobs in a lot of places.

You must be completely clueless to not understand that all the policies that come out of DC area affect the entire country or even the world. You truly don't even get the importance of decisions made in this little 'hellhole' town you so much despise. Even though you do hate this place, this doesn't change the fact that the government is still here and isn't going anywhere. Whether government spends today or stops spending tomorrow, a new administration takes over the office every 4 or 8 years and rules change. One thing doesn't change - whatever happens in DC affects the entire country. If you wish armageddon upon DC area, well, you just might as well enjoy the entire country going down the pipes.

[14thandYou]

Originally Posted by KT13

You truly don't even get the importance of decisions made in this little 'hellhole' town you so much despise.

I couldn't care less if he hates it. He doesn't live here, and ignorant/uninformed opinions exist everywhere. What *I* don't understand is someone devoting so much time to propagating this nonsense. It's almost as if DC knocked up his sister and then stopped taking her phone calls.

[tech2enable]

Originally Posted by KT13

And effects of government spending aren't just limited to DC area, so what's your point?


Let's fact check, true you are right in that its not limited but in comparison to the tri-state area and even california , washington (state) and massachutes , the dc area has nearly double the ratio of federal spending.

I'll exclude the district itself since that is where the capitol is, maryland and virginia rank as 1.3x and 1.5x per every dollar sent to the feds , the receive much more in return. They would receive even more if it were not for the progressiveness of the income tax.


The bailout money had allowed a lot of companies to stay afloat and saved a lot of jobs in a lot of places.



You must be completely clueless to not understand that all the policies that come out of DC area affect the entire country or even the world. You truly don't even get the importance of decisions made in this little 'hellhole' town you so much despise. Even though you do hate this place, this doesn't change the fact that the government is still here and isn't going anywhere. Whether government spends today or stops spending tomorrow, a new administration takes over the office every 4 or 8 years and rules change. One thing doesn't change - whatever happens in DC affects the entire country. If you wish armageddon upon DC area, well, you just might as well enjoy the entire country going down the pipes.

I think your getting off the topic a bit, I never called D.C. a hellhole, I am arguing that it is overpriced based on several factors and military contractors , and lots of other well connected individuals up the price.

By the way do you think the federal government really cares about D.C. and the people who work for them , maybe some of them but certainly not all of them, its great I didn't find out the hard way.

Perhaps D.C. should want and demand more, but no and the way things are going, I expect a bubble soon unless of course the military contractors and well connected folks drive up the price, and the end consumer keeps giving in.

What a brilliant strategy that folks don't seem to get.

[14thandYou]

Originally Posted by tech2enable

I am arguing that it is overpriced based on several factors and military contractors , and lots of other well connected individuals up the price.

That's called the "market". DC is a very affluent area. Combine that with a high quality of life and a robust job market, and you get high real estate values. Which is pretty much what everyone has been saying to you for a month now.

Now, I *will* agree that some areas are overpriced for what they are. I understand people paying an arm and a leg to live in Dupont, Georgetown or Logan...places like Ashburn, Woodbridge and Olney, not so much. And those farther out exurbs are where you're seeing the biggest drop in housing prices.

[KT13]

Originally Posted by tech2enable

Perhaps D.C. should want and demand more, but no and the way things are going, I expect a bubble soon unless of course the military contractors and well connected folks drive up the price, and the end consumer keeps giving in.

Can you please explain how "military contractors and well connected folk" drive up the price? Now are they different from 'end consumer'? Aren't they also 'end consumer' if they move to the area and need to buy a house? Isn't everyone working where-ever in whatever industry in DC and buying RE here is an 'end consumer'? what is your definition of 'end consumer'?

I want to complain how wall street fat bonus bankers and other 'well connected' NYC folk drive prices to insane levels in Manhattan to make it impossible to afford to 'end consumer'. Moot point? well, it's just as moot to argue that some affluent portion of DC population would obviously be able to afford to pay more and would drive prices higher in prime areas.

So, it's 'normal' in your opinion that some higher income earners in Bay area and NYC drive up the prices because they can easily afford properties over 1 million, but it's unfair that there might be some of that affluent class developing in other 'non-deserving' areas like DC.