Thursday, July 26, 2007

DC Top city to Rebound after Slump according to BusinessWeek

Its about time!!! Just as predicted all along, according to John Burns Real Estate Consulting, out of Irvine, California, DC will be one of the first cities across the country to rebound despite what many of you have read in your local paper. This comes as a relief to many of the sellers out there that may have caught the real estate jitters. Among the other cities cited were San Diego and New Jersey. Refer to my original blog about my brother here.

Thank Peter Coy for todays recent insight, a writer for BusinessWeek. His article can be found here.

You may be asking what all this means. My interpretation of the release, despite difficulties in the mortgage industry is all too commonplace an answer. DC's population is nearly 40% subsidized by government funding. On top of the stability of public servants incomes as well as the general population here, the government is about to undergo a significant turnaround in their political population, thereby increasing the need for housing movement. I wouldn't be so worried, this is still the most powerful city in the world.

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