Friday, August 7, 2009

Buy Washington D.C. Real Estate!

From BusinessWeek:

Is Washington DC real estate poised for a rebound?

Demand for homes in the Washington DC metro is now outpacing supply, The Washington Post’s Elizabeth Razzi reported today. The inventory of unsold homes in June dropped to a healthy 5.1 months supply, according to a report from the local multiple listing service and Delta Associates. This is the amount of time need to sell the homes on the market at the current sales pace. Experts say a market in balance has about 6 months supply. Anything below that is considered a buyer’s market....MORE
From Real Time Economics:
Amid Stagnant Wages, Washington Rises More Than Others

A recent survey of employers in metro areas across the country shows the pain of the employed: Virtually everywhere, employers’ salary budgets have increased less than it was projected in 2008, according to WorldatWork, a non-profit human resources association....
...Topping the press release ranking was Washington, D.C., with a 2.3% average paycheck booster. “With a projected 350,000 federal sector job openings in 2010, it’s easy to see why the Washington, D.C. labor market will continue to offer competitive compensation to keep top talent,” Paul Rowson, managing director of the WorldatWork Washington Office and Conference Center said....
From today's employment report, via the Mises Economics Blog:

No Job Losses in Government

Just think: if everyone worked for the state, there would be no unemployment, ever.