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DC Housing prices skyrocket. “The house was sold for $760,951—which is $360,951 over the asking price, and $260,951 higher than similar homes have been going for in the area.” Wots up? As P.J. O’Rourke famously observed: “When buying and selling are controlled by legislation, the first things to be bought and sold are legislators.” At least, until the money runs out. More here.

750K DC house

Contributed on December 22, 2012 by Bonfire of the Absurdities, who has submitted 2789 posts.

{ 9 comments… read them below or add one }

poppajoe49 December 22, 2012 at 8:03 am

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I guess the faithful are trying to move into the area so they can fawn over The One, therefore causing a shortage in housing, and therefore raising prices.
Just goes to show that there is absolutely no taste in DC.

CO2Insanity December 22, 2012 at 8:17 am

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It’s because of all the government workers they’re hiring. If nothing else they’ll have to hire a boatload to administer Obamacare, not to mention that boatload of IRS agents they plan on hiring to enforce it.

Room101 December 22, 2012 at 10:47 pm

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The only part Government forgot about is that there won’t be anyone to pay for it all according to their agenda and time-tables.

Big Al December 22, 2012 at 8:31 am

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The neighbors alone ought to drive the price of each dwelling down half a mill.

flashingscotsman December 22, 2012 at 9:17 am

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Soon to be Detroit.

Sidekick December 23, 2012 at 8:04 am

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Just another bubble fueled by a nonviable industry. I agree with you.

Not so silent December 22, 2012 at 9:21 am

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I bet its a drooling liberal moron who wants to live in the emerald city near the wizard of odd…the house will be worth about 20,000 in a three years and flash is right, it will look like the next Detroit

flashingscotsman December 23, 2012 at 10:40 am

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Maybe we could open a pawn shop in D.C.?

sa_rose December 23, 2012 at 11:26 am

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Why on earth would you pay thousands OVER the asking price? That alone falls under the “mmore money than sense” category! Besides, DC proper is a shit hole. I can’t believe anyone would voluntarily live there. Of course, its probably cheaper that the surrounding areas outside of DC. THis is why our Representatives and Senators are deluded that the economy is in recovery, etc. They know nothing outside the beltway/