Elderly Washingtonians are falling victim to predatory — and often unlicensed — investors, developers, and scammers looking to profit off of their homes.
Why it matters: Redevelopment efforts are leading to displacement and diminished opportunity for intergenerational wealth for some of the District's oldest residents, who are often Black.
The median sale price in the D.C.-metro was $585,000 in the month of August, according to Greater Capital Area Association of Realtors data.
Half a million dollars is a lot of money, but it doesn't guarantee DMV buyers a lot of house, Paige writes.
Why it matters: The D.C. metro's housing market is still on fire thanks to historically low interest rates, low inventory, and high asking prices.
Recent housing data shows the D.C. market is still wild, Axios' Paige Hopkins reports.
Why it matters: Even with a slight increase in inventory, the market still hasn't settled back down to pre-pandemic levels, which makes it harder for homebuyers with tighter budgets who can't afford to offer above asking price or pay in cash.
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