I'm not arguing, ggw, I'm asking. I am *far* from an economics theory literate person, and I do not enjoy following any of this.
My situation is that I make a relative good income, and am having real problems (I've had employment fluctuations and changes that kept me from buying 5, 4, 3 years ago -- as everyone says now, I should have done it anyway, but it wasn't necessarily insane that I didn't).
I ask every day, how can this go on. I'm not looking for a place to build my wealth from, to use for equity down the line, etc (I would never consider an interest only loan, but I know how many folks are doing that...). I need a place to live that will get me out of my current tax situation. And hopefully it will appreciate.
Blech, I keep swearing I won't keep talking (or asking) about this, but it's hard to avoid.
I do, though, still believe DC was undervalued for a good decade or so, and see some of this as a normal course correction.