Unsure about area's real estate prospects.

[Nika]

DC is looking a lot like China lately - construction everywhere you look. In the area where I am, in Arlington, it is incredible - I live in a new luxury high rise, and there are 3 massive developments within 2 blocks (city block size high rises). One is growing like a mushroom right before my eyes - a floor every couple of weeks.

I could live in a brand new building, each more luxury and modern than the other, every 2 years, moving no further than a 5 minute walk. With new appliances, cabinets, gym, new everything!

Does it make sense to buy when area is being developed that furiously?
Supply is huge, and all high end. Also, lots of rental buildings (more than available for sale). Would this keep rental prices down and keep housing from appreciating? Or would it become a new trendy downtown like area? (one development will have office space, and all will have restaurants/shops/businesses downstairs to take advantage of high concentration of people.

I find it hard to make a wager if investing in housing in this area is a good bet.

[rennigade]

I wouldnt look at a house im going to live in as an investment.

I lived in rosslyn 5 years ago...the place looks completely different when I was back there a couple months ago. I imagine the courthouse area is also booming.

That area is pretty much recession proof. Unless the government moves out of the city to some remote area in the midwest its always going to be a booming area. Even when the crash happened you barely noticed it within the dc metro area.

I live in maryland and the rockville/bethesda area is growing at an alarming rate. New construction...condo buildings, apartment buildings, shops, etc etc. Im glad im leaving soon. I cant even begin to imagine what traffic will be like in 10 years. The roads cannot sustain the growth.

Unless im mistaken arent you a sahm and your husband works? I think I recall years ago you asking about the area and wanting to live like the rich and famous? My friend is going to be selling their loft condo in 1 years. It'll probably go for around 1.5, hoa costs $900/month...should be up your alley.

[TexasHusker]

As an earlier poster pointed out, it's difficult to imagine a safer real estate market than in a metropolitan area where most people work for the gubmit. When was the last time Uncle Sam had a mass layoff ?

[james.hendrickson]

At one point I had like three investment properties in Washington, DC. I think all told, we made $150,000 on them.