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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Doughboy who wrote (35985)	7/21/2005 11:50:02 PM
From: John Vosilla	Read Replies (1) \| Respond to of 306849

That is funny. I wonder if Bush has heard about option ARM's and interest only mortgages to keep the payments low so his appointees can afford to move to DC<g>

To: Doughboy who wrote (35985)	7/22/2005 5:30:22 AM
From: Dale Baker	Respond to of 306849

I suspect that a lot of investors snapped up 3BR townhouses in the $300-500K range the last couple of years because they always go up, right? Now I can find a long list of those townhouses to rent for $1500-2000 per month in the Washington Post. If you bought for $400K and can't flip for a profit that easily now, and there are 100 other units like yours migrating to the rental market to cover that mortgage around $2K per month, I would expect the rental market to stay soft in that range. Just my assessment from a quick look at the DC rental market and several short stints living there the last 20 years or so. I would welcome a correction based on the current statistics if someone has them. I was just surprised to find 3BR townhouses for the same rent that 2BR apartments were getting a couple of years ago. I know what I will opt for the next time I move there.