Washington Post Special: Black homeowners in PG County have watched wealth vanish

the bossman

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Peace,

Very true.

The trajectory on prices seems like on an eternal upward pattern. I bought my home in Alexandria earlier this year for around mid 400s, it's appreciated to right around the low 500s. My neighbors are also around 500-600k and it's not hard to find million dollar homes spread out like you said. I'm happy with the instant equity but this shyt can't be sustainable and I feel bad for anyone home buying having to deal with these high prices.
:ehh:congrats breh. Potomac yards area or closer to Huntington? How you like it there? I looked over there but didn't want to end up living around too many cacs and my experience with VA police has been :stopitslime:

I'm closing on a house in Hyattsville this month. mid 400s :manny:. that city tax is a bytch though :sadcam:
 

The M.I.C.

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:ehh:congrats breh. Potomac yards area or closer to Huntington? How you like it there? I looked over there but didn't want to end up living around too many cacs and my experience with VA police has been :stopitslime:

I'm closing on a house in Hyattsville this month. mid 400s :manny:. that city tax is a bytch though :sadcam:

Peace,

Closer to Potomac Yards. I like it but then again I'm usually stuck in D.C. cause of my job so I don't interact with most of my neighbors much.

I was actually considering PG County when I was house hunting..Hyattsville and Bowie but I can do without the extra cost in taxes, like you mentioned. Wasn't happy with the commute either but shyt ain't that much better in VA even with ezpass having to go towards Georgetown.

Breh, don't get started about Virginia State Police.
 

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I'm currently in the market for buying a home in PG (or BMore) and this shyt is seriously turning me off. I don't want to take a major leap and end up making a major mistake in the end.
 

Londilon

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prices are also crazy because downtown DC and its surrounding area is currently getting loads of all types of development which is making more whites flock to living in or around DC.
 

BmoreGorilla

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I'm currently in the market for buying a home in PG (or BMore) and this shyt is seriously turning me off. I don't want to take a major leap and end up making a major mistake in the end.
There's certain areas here where you can buy cheap right now thatll be worth a lot more in a few years
 

mcdivit85

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More of the same ol "American Dream" sh#t that turns into the American Nightmare :francis:

Reading over the first half of the article, that couple had no business getting a house worth more than half a million. If they've been paying for years and years and still owe $560K, how much was the original amount? And they didn't mention their incomes, but something tells me that their incomes didn't justify such a large mortgage.

It's funny how poor and middle class like to wag their collective finger at the rich for being greedy, but everybody has been greedy. And stories like this confirm it. People were taking out mortgages on their dream houses. Buying second homes. Refinancing and using their homes like debit cards. All with house money....people were getting mortgages for half a ticket on $40K...like sh#t was going to last forever.

They all bought into that "home values always go up", "you can't lose on a house", "a house is the best investment" and all other middle class lies.

And logically, of course the black "middle class" and "upper class" would suffer the most. Why would anyone be surprised? Overall, blacks have less wealth to maintain a large investment when the economy drops. And blacks have a harder time getting and keeping employment. So, when a black couple loses their jobs, they have less money to devote to their house while unemployed and when the jobs start coming back, whites get hired first and blacks last.

Peace
 

Wink Beaufield

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Peace,

Closer to Potomac Yards. I like it but then again I'm usually stuck in D.C. cause of my job so I don't interact with most of my neighbors much.

I was actually considering PG County when I was house hunting..Hyattsville and Bowie but I can do without the extra cost in taxes, like you mentioned. Wasn't happy with the commute either but shyt ain't that much better in VA even with ezpass having to go towards Georgetown.

Breh, don't get started about Virginia State Police.

I was looking at spots out in Mount Rainer and Hyattsville and even NOVA but the taxes are what convinced me to buy a house in DC.
 

Poitier

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Why isn't the DMV hyped up like Atlanta,Houston or NC? There is alot of black folks down there and in the long term when my money and career is situated I want to move to a majority black area and leave NYC.

DC does not have the longterm upside that Houston or Atlanta has. Look at any future cities projection and those two cities are thought to be capable of being top 16 cities GLOBALLY.
 
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