That is a life goal? Come on, think big. Go for 10! We are still early!
True true but as someone who works for Congress in Washington, DC (DC just made the top 10 most expensive places in the world to visit.... yay me.... -_-) the ability to accumulate right now is not great! I did though recently get a pay raise so maybe the whole second job thing can go away cause ya boy is tired!
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left dc a couple of years ago, after a decade in the NW. it's was insane to see prices jump during my time there. you can thank all the construction companies destroying beautiful homes with great bones to build cookie cutter small/lame ass condos to maximize profits.
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Every city is like that now days.
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true. smaller cities are having their moment. i'm very interested in seeing how real estate plays out over the next 2 years.
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I’ve been hearing people say this every year for the last two decades
I am curious to see where real estate prices land in the next two years.
In the last 25 years there has been one bear market in real estate, residential: 2008 to 2012
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well we got commercial real estate blowing up in all big cities and interest rates coming down for residential. the dumbing has started, big dump next year, then we see what's what.
maybe the 2 year pattern is just based on how long people perceive the changes take in real estate. for me it's a 8-10 year cycle.
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With a bigger population
Some cities like St. Louis and Baltimore are losing people
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I lived in Navy Yard the last 3 almost 4 years so I have seen it change from the warehouse district place and empty lots to parks and apartment buildings. To me they seem to have done a pretty good job fixing it up since it was a pretty bad area and wasn't utilized before.
NW and NE seem to be the wild west these days. So many shootings
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DC population is increasing?
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21 sats \ 1 reply \ @Cje95 OP 8 Aug
It did but it looks like it is slowing down again. There was a shortage of places to live because when they knocked down homes for apartments those apartments all got caught up in COVID and were delayed years. DC was one of the last places to lift their mask mandate.... it was awful
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The mayor and the city council are awful
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What or who is making DC so expensive?
More federal employees?
I am guessing it’s lobbyists who are well compensated
K street real estate must be most expensive at least for commercial
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That is the million-dollar question because a ton of the government jobs are either hybrid or remote now so the government buildings themselves are super super low on occupancy.
The big three firms have had some pretty recent and significant rounds of layoffs/non-contract renewals. The district does itself no favors with having taxes on everything I mean when you get your hair cut there is an "environmental fee" for god's sake.
There is a super odd dynamic in the city right now where for people who live in the city as getting crushed but traveling to work is a huge issue so a lot of workers are essentially trapped. I think the entertainment and restaurant side of things is only able to stay afloat right now due to tourists. The tourists booming right now and that seems to be what is keeping people afloat.
Congressional staff like myself do not benefit from when the Federal workers get an inflation-related pay raise like Biden has been doing the last few years. Congress hasn't increased spending on themselves to really retain the best staffers as well. It is a huge catch-22 as people like myself get kinda fucked over. I love the work and who I work with otherwise this wouldn't be worth it since I can make so much more in the private sector.
Going into 2023 I received a raise of less than 3% when Federal workers across the government received double-digit raises due to inflation. Our salaries themselves are already low and it wasn't until 2022 that the House put in a floor that you had to pay staff at least 45k a year. I knew staffers who were making $35k so they had to have second and third jobs. I've been at the Committee I work on for over 2 years and I still do not make a salary that is considered middle-class ($80-100k) for reference.
Within my coworker group the policy staff really makes at most the $80k level and the heads of the subcommittees and the committee at large make low to mid 6 figures. Its talked about openly that if you have a family and you make $150k on the hill you either A have to live in an apartment or B have to leave the hill to make enough to afford life in DC.
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I forgot about tourism!
Have you seen Veep? I have heard it is funny and realistic. Funny because it is realistic
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it's a transitory city. people usually don't stay for more than 5 years. they come for work, a name on a resume, and then go up to new york or back to where ever they came from. so for them, they don't care what the prices are because it's not their long term home. this also ripples into the community and culture building aspect of the city. i would say it's people working on the hill more then fed employees but i could be wrong. that wasn't my industry and i did my best to stay far away from those people. no shade @Cje95, you know the dc handshake: what do you do, and who do you work for?
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Understood
Wasn’t DC a cheaper place to live and work when Marion Barry was mayor?
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i see what you're doing. every person that pursues power is corrupt or will be with enough time. left unchecked they become grifters, extracting everything from the people they swore to protect.
don't turn it into something else.
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No
I mean DC was cheaper during the 1980s and 90s
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facts, but so was everywhere else in the whole world. i could have bought a whole building in manhattan in the 80s under koch. maybe i'm reading into it too much or missing something?
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I’m not discussing the entire world or Manhattan.
Plus cost of living doesn’t rise equally in every city or state or country
Your answer is very defensive and obnoxious.
If you don’t know the answer say nothing or declare ignorance
Maybe its time to look for another job that pays better?
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I am in a really weird place right now where I need another roughly 18 months to hit the first pension level mark. I have already paid into it for over 2 and a half years so there is that. Also I am still working to build up my connections so I can get the hell outta here and back to Texas where the people are a lot less insane and work in government relation/lobby
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Texas lobbyist
Getting involved with being a bitcoin lobbyist at this stage may in fact be a golden ticket. Especially if your clients (miners) agree to pay you in BTC!
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That might be the way to go!
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Another 18 months? You have to remember about pensions....if fiat is worth zilch, your pension will be worth mega zilch.
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Yeah its a 5 year thing.
I agree with you though about the worth of the pension. Its why the connections are a huge thing for me because my work here can be extremely helpful in catapulting me into a cushy high-paying job.
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Well, I guess you have 18 months to make those connections. Or you could be building with those 18 months at a new job.
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20 sats \ 1 reply \ @Cje95 OP 8 Aug
November will really help me decide either one way or the other lol
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Good luck. Hopefully you can find a very good job that pays well. People are always needed in the labor industries. Get a specialized license and you will be set for life!