Monday, January 26, 2009

Washington, D.C. is World's Best Place to Invest in Real Estate

I was reading Forbes recently, and I saw this list. It's the top 10 places in the entire world to buy real estate:
1. Washington, D.C.
2. London
3. New York City
4. Tokyo
5. Shanghai
6. San Francisco
7. Los Angeles
8. Paris
9. Houston
10. Singapore
Washington, D.C.? Why D.C.? That just really seems like an interesting place to top the global market for real estate. After reading more of the article, it turns out that people are really betting on the fact that President Obama's $1 Trillion stimulus package will not only create jobs in the D.C. area, it will also make sure that a lot of currently-employed government workers will keep their jobs. The unemployment rate in D.C. is hovering around 4%, and now there are likely to be even more jobs created in the area. The D.C. real estate market is already over-valued in my opinion, but I wish I had some extra (bail out) cash on hand to buy up some D.C. area property.