Thursday, November 10, 2005

$100,000 loss before you walk through the door.

Nice article from Washington Post about the bust in northern Virginia. One young couple has already lost $100K (pre-construction price), as copare to what the going rate for their town house. If you have to change jobs or move for any reason, you have to come up with $100,000 plus realtors fees, just to get out of the house. This will be the type of pain that many people will be feeling.

Lost $100,000 before I moved in


Blogger njpineygal said...

As somebody priced out of the market despite a good job and a decent income, I can't really say I'm crying for these peope. There is no such thing as a townhouse work $800K unless it is on East 64th Street just steps from Central Park.

5:36 AM  
Blogger njdoc said...


The only people who are not priced out of the market are those who are trading up, those on Wall Street who are getting a few million dollar bonuses or those who are taking crazy mortgages.

2:59 PM  

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