Trulia Washi…, Other/Just Looking in Charlotte, NC

What are the biggest factors in Washington's housing market recovery?

Asked by Trulia Washington DC, Charlotte, NC Tue Apr 16, 2013

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3
Richard Seaton’s answer
1. The average level of educational attainment is very high in the District, giving people greater access to good jobs and maneuverability within the job market when things are tough.

2. Rents are among the highest in the nation and Washington is one of the few cities in the country where it is cheaper to buy. Therefore, those who can do do are getting into the housing market -- and improving their monthly cash flow both because their mortgage payment it lower then their rent was and because of the tax deduction they now enjoy.

3. Access to low downpayment loans such as FHA is fueling the market below $729,500.

4. People want an urban lifestyle where they can spend less time in their cars and more time living their dream.
0 votes Thank Flag Link Wed Apr 17, 2013
I can add to Santiago, follow:
Drop number of foreclosures and lower unemployment rate.
0 votes Thank Flag Link Tue Apr 16, 2013
- Confidence in the national economic outlook
- confidence that the DC area real estate market is among the most stable in the county
- low interest rates
- a trend towards urban environments and all they offer
0 votes Thank Flag Link Tue Apr 16, 2013
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