Real Estate Rollercoaster ride slowing down

On one level I just gotta say WOOT! When seeing in today’s Post what I believe I had been seeing and wondering about…. the crazy crack fueled real estate market is cooling down.
You may ask, why would I rejoice at such a thing? For one selfish reason, I don’t want to see my real estate assessment continue on an insane rise. Since buying, I have seen the first number in the assessment figure change almost every friggin year. $100K, then $200K then $300K. Crazy. Second, maybe just maybe now my single friends can buy their own homes when the market ceases to be overvalued.
Yes, there is the downside. The engine that fuels the redevelopment going on here may slow down as well. I don’t believe the market will go bust. But I wondered if there was this continuous supply of people willing to spend a lot and take a chance on Shaw. My fear in a slowdown or a balancing out of the market is that investors and developers who have come in and have started work thinking they’d get desperate buyers throwing money at them will change plans and try for rentals and the ever reliable section 8 program when the buyers are not as desperate.
Maybe instead of “luxury” condos, maybe we’ll get plain old condos that plain old professionals can afford to buy. Hopefully the developers and investors can build for them.

5D CAC Meeting

From Art

Dear 5D Community Members:

Because Thanksgiving this month falls on the fourth Thursday, which is the traditional day of the Fifth District Citizens’ Advisory Council meeting, we will be holding our monthly meeting on the third Thursday, November 17, 2005 at MPD 5D Headquarters, 1805 Bladensburg Rd, NE at 7:00 pm.

At this meeting we will hear the Commander’s Report, conduct some Old Business, hear any pressing community concerns and then bring in some good old pre-holiday cheer.

Refreshments will be provided but if you can’t resist preparing a favorite dish or a dessert, please feel free.

We’re also partnering with 5D for the annual Fall Food Basket Drive, so consider bringing a non-perishable food item to this gathering. We also invite you to volunteer to help us prepare and wrap food baskets on November 22, 2005 at 5D Headquarters to bring holiday cheer to 5D families. For more information, please
call (202) 698-0111.

And once again, I’d like to thank the honorees and all of you who supported and contributed to the success of the recent 2005 5D CAC Awards Dinner.


Art Slater
Chair, Fifth District Citizens’ Advisory Council (5D CAC)