30 Something Baby Doc

I left my home town of DC (Metro area) in the early 1990's to attend medical school and haven't lived here since. At that time a 2 or 3 bedroom townhouse in Silverspring or Bethesda went for about 150K - 170K. Now these homes are STARTING at 500K and after you purchase all the upgrades, you'll likely pay 650k to 700K. What do you get for your money? 2000 square feet, if you're lucky. A master bedroom so tiny that it cannot accommadate a kingsize bed. A one car garage. No basement. A brick front with aluminum siding. The 3rd worst traffic in the country despite being a city with one of the best public transportation systems.

I become sick when I realize that this is a representation of the entire DC housing market. My sister purchased her house in the early 90's for 180K and it is now appraised in the high 400's. Houses in her neighbor hood are going for 600k. I wouldn't pay over 150k for the same house in the Midwest, where 400K - 600K would get me all brick wrap around, 3 car garage, 4000 - 6000 sq ft, an in ground pool (some indoor), and a decent school district (if ever needed).

My family wants me to move back to DC . I did have a strong interest in moving back after residency, but the city is saturated with physicians and Ob-Gyns are making 30 - 40 k less a year in the Metroplolitan area compared to the South and Midwest. (So I'll be making less and paying for a higher cost of living) . I just can't rationalize moving back.

DC does have it positive points as a major city. But given the traffic, crime and cost of living these positives don't outweigh the negatives.

I just feel sorry for all those young families who move to the DC area and try to afford this crap with interest only mortgages....when the principle comes up they'll be paying $3000 - $5000 a month in mortgage alone!!! That makes me tremble, even on a physician's salary

Keep on renting JB!!!!