Forbes Magazine Says: Washington, D.C. Tops List for Real Estate Buys

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“The nation’s capital leapfrogged London this year as the world’s best city for real estate investment. With the federal government on a path to grow bigger and increase spending, the new programs will need offices and its employees will need homes.

Here is the list of the world’s 10 best place for real estate buys:

* Washington, DC
* London
* New York City
* Tokyo
* Shanghai
* San Francisco
* Los Angeles
* Paris
* Houston
* Singapore”

8 Comment

  • It’s interesting to think DC real estate could be a good investment since even with the downturn prices have tripled in the last decade…you know this whole thing about how you’re supposed to buy low, sell high. Hey, but I guess this is good for homeowners out there I guess…

  • I believe it. Prices have held up incredibly well. In 10 years, DC will be transformed into a world class city. DC, NYC, and SF are the top tier cities in the country. Going forward they will further separate themselves from the pack. I predict that NW DC will eventually become similar to Manhattan in that it will be unaffordable to most in the metro area.

  • For my personal sake ONLY, I hope they are right.. 🙂

  • seems from the article that this is more a statement about how bad it is in NYC and London than anything else. Maybe it’s the sign of a larger trend of financial firms shifting their focus from NYC to DC. I guess only time will tell.

  • Woo-Hoo, H-Town makes the top 10!

    What they don’t tell you is that you’d could buy 10 houses in Houston with the money for a downpayment on a shell in Anacostia located next to a superfund site. I doubled my money in my house there in 7 years and still only *barely* had enough for the DP here.

  • What does Forbes know? They certainly haven’t proven to be sages in the last 6 months. DC historically weathers downturns well but 2009 may take us into unchartered territory. Just read (nobel prize winner) Paul Krugman in the NY Times and he’ll put the fear of god in ya. Who knows where the bottom is? If I had to choose, I think I’d stick to renting for a bit longer.

  • With interest rates the way they are now (low low low) it doesn’t matter if the value goes down a little bit. Buy!

  • Encouraging news! I think pricing in D.C. is generally still too high, but buyers have a lot more negotiating room than they’ve had for the last five years. They also don’t generally have to contend with the crushing feeling of pressure associated with multiple offers and escalator clauses, which makes it feasible for the first time to get into popular buildings in popular neighborhoods.

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