All Hail the Washington DC Housing Bubble

The Case Shiller 20-city home prices report this morning was more of the same.  Down (of course) but not as bad as expected.

One bright spot – your tax dollars are fueling quite a party in DC and its surrounding suburbs.  It’s like a goddamn goldrush out there as lobbyists, lawyers, politicians and their minions gorge themselves on the carcass formally known as non-corporatist democracy.  Here’s some color (emphasis mine):

The 10-City Composite was down 2.0% and the 20-City Composite fell 3.1% from their January 2010 levels…San Diego and Washington D.C. were the only two markets to record positive year-over-year changes. However, San Diego was up a scant 0.1%, while Washington DC posted a healthier +3.6% annual growth rate.

Now if only we could central plan from California or Florida – just imagine the housing comeback!