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9throwawayDERP t1_j0ht822 wrote

Reply to comment by jindc in DC's old Vanguard building to be converted into downtown apartments by Maxcactus

I would be weary to buy a condo in DC. DC allows for development so condos are just a depreciating assets, since there will always be ‘more’. And there are still tons of lots available for development.

If the city was fully built out and there were so surface parking lots period, I’d consider it.

The condos in my neighborhood simply sell for their original price. The rowhomes have all appreciated, since you can covert them to condos.

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jindc t1_j0hxtn8 wrote

Volatility is real. I purchased mine in '97 for less than it sold originally in '75.

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JerriBlankStare t1_j0j6kt7 wrote

>I would be weary

FWIW, the word you're looking for here is wary (feeling or showing caution about possible dangers or problems.)

Weary means tired. 😏

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brekky_sandy t1_j0itpms wrote

Why does housing have to be an investment, though? Wouldn't it be better for everyone if we could buy and sell properties for (more or less) what they're actually worth?

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9throwawayDERP t1_j0ixefv wrote

Oh agreed. Structures shouldn’t appreciate. But I don’t want to burden everyone with all the vagaries of home ownership.

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brekky_sandy t1_j0j1oc6 wrote

Well, I'm here for it if you ever want to get into it!

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veloharris t1_j0j3owm wrote

Plenty of condos in DC appreciate, as with all real estate, it depends where it is located.

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