Asymmetrical Information - Megan McArdle

10.31.12

What Happens to DC Housing After the Election?

Republicans are from Virginia, Democrats are from the District?

The conventional wisdom in DC is that Republicans move to Virginia, while Democrats favor the district.  

Not so, says the City Paper.  DC's housing market and population have grown regardless of what party holds office.  U Street's gentrification solidified under Bush.  Dupont started to change in the Reagan/Bush years.  

Reassuring for homeowners looking for a deal.  Disappointing for those who were hoping that a Romney presidency might bring some relief from sky-high prices.  Looks like they'll have to wait for sequestration.  Except, oh, wait, that might not do it either. A regional cyclical economic downturn, then; the political cycle won't do it.