Polisphiliac David Brooks:
Here’s a way to make money off of other people’s misery. Short house prices in Northern Virginia. Starting with sequestration and then continuing over the next several years, the Defense Department is going to be hammered. All the big defense contractors in Northern Virginia are going to be hit. It’s already happening. I don’t know if you were thinking of buying a McMansion in McLean or not, but I’d hold off for five years.
Would any of you bet your hard-earned money that the government is going to shrink enough in the DC area to significantly impact Northern Virginia housing prices? I’m skeptical to say the least. Betting on the long-term (budgetary) health of the state is usually – unfortunately – a winner.