Despite recent growth, many Washington DC houses still underwater (Washington Post) 32% of homeowners in the DC area remain underwater, according to a new report.
Washington D.C. property values shrink 10% over last 2 years (Washington Times) According to a report from DC's Chief Financial Officer, property values shrunk by 10%, costing the city $100m in tax revenue.
No buyers market for first-time home shoppers (CNBC) Buying isn't just competitive in Washington D.C., other markets are facing investors with plenty of cash.
Housing recovery happening, in some places (Wall Street Journal) While the nationwide market caused a crash all around the country, different regions are exiting the housing crisis at varying levels and at different times. The DC area is up a mere .3% in price appreciation over the past year.
Housing may actually add to GDP this year (HousingWire) Having taken away from GDP growth for the past 5 years, housing may actually contribute, though it will probably account for 2% of the economy, a third of what it was before the crash.
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