There Goes The Neighborhood: Is The White House Bringing Property Values Down In D.C.?
There Goes The Neighborhood:
According to the Washington Post, “The recent decline in home prices and the meltdown in the market for subprime mortgages are the first signs that the air is coming out of the credit bubble. Already, those factors have shaved half a percentage point off the economic growth rate. And you can be sure that there will be a much larger impact on jobs and incomes from a broad decline in stock and bond prices, a sharp tightening of credit, and the turmoil that both of those will create in the murky derivatives markets.”
Geez Louise! There goes the neighborhood! And Pennsylvania Avenue used to be such an upscale place to live. Don
