Home ownership in DC

I was surprised by some of these facts:

DC has some of the lowest rates for outright home ownership. Meaning that most people have mortgages which giving the housing price boom of the early 2000s strikes me as odd. But when you look at the number of houses underwater (potential sale price is lower than current mortgage) you can see that the housing crisis is still an issue in DC.

Intersting news from developer Bozzuto, they are developing 36 vertical car spots in their new building downtown. I am not sure how that works without an attendant…..

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One thought on “Home ownership in DC

  1. The majority of home purchasers have a 30 year mortgage. Not sure why it would be surprising the low percentage of outright home owners. And I don’t find the information provided by Zillow to be reliable and accurate. Zillow provides home “Zestimates.” I have seen Zillow “Zestimate” $900,000 homes in Logan Circle at $700,000, which is highly inaccurate. There are many factors & details of properties Zillow does not take into consideration when valuing real estate. DC is not experiencing a housing crisis issue.

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