Real Estate Boom

In case you hadn’t noticed the whole DC metro area is experiencing a construction boom. There was an interesting article in the WSJ today about it, and how DC, besides just riding a nationwide wave of urban housing renovation and condo construction, is also becoming a new center for real estate investment from outside the metro area. The article links the trend to September 11th. After the terrorist attacks, real estate investors were less willing to put their money into new skyscrapers and NYC real estate prices deflated. DC, with its building height limit, was not a problem there. Furthermore, after Sept. 11th the government created the Dept. of Homeland Security and increased defense spending, which created new demand for office space (for lobbyists, consultants, and new federal employees). With lower crime rates and a more business friendly city administration, more new businesses have been willing to start or move here. DC just became the third largest

2 Comments so far

  1. plane (unregistered) on October 21st, 2005 @ 6:43 am
  2. playthings (unregistered) on January 12th, 2006 @ 3:54 am

    peckerragreigns



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