Post had an article on Wednesday describing a rebound in Prince William county, VA. Schools are full and housing is moving. That fits what I've noted on visits to my mother-in-law in Manassas Park--fewer "for sale" signs up for shorter times.
In my mind this is the way the real estate market revives: the new households formed, whether of immigrants who band together to finance a house, young people finally able to buy instead of rent, low-income households rising up the ladder, all find places where houses are affordable, as in Prince William. They buy new houses and existing houses. The owners of the existing houses then may have the money to finance a more expensive house, and so on up the ladder. Instead of the "trickle-down" theory of wealth, this is the "build from the bottom" theory of housing prices. (And it's one reason why I've still got the bee in my bonnet that the anti-immigrant fervor of 2005-7, as in Tom Tancredo, helped to pop the housing bubble.)
Anyhow, the future is looking a little brighter.
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