The Oil Drum

Dunno. Don't care who does or doesn't buy the furniture, really. I just want a picture of them ripping down the Hummer building :-).

The credit crunch and real estate mess is still very localized in the DC area. The inner suburbs are still doing fine in terms of real estate - many of them were bought before the funny loans came to exist. In some neighborhoods, they report that prices are still increasing, and foreclosures are still rather rare.

Go out 10 miles or so, and you are really in the exurbs with no mass transit at all. That's where you find new subdevelopments that were thrown up more recently, and when the funny loans and the crazy valuations. That's where there is a lot more foreclosure activity.

Where we are in Tysons, it is kind of inbetween. I am not aware of many foreclosures (there could be some, but I don't pay close attention). To be honest, one of the problems in Tysons is a general lack of housing. It is mostly office and retail, which leads to the horrible traffic that they are trying to partially correct with Metro.