From today's Washington Post's Real Estate "Live" with hosts Maryann Haggerty and Elizabeth Razzi:
Arlington, Va.: Why wouldn't a house in arlington depreciate from 500k to 350k in a couple of years? Those houses pre 2001 were CHEAP (less than 200k). Sorry, what goes up must come down. Please do not think that the northern arlington area is immune to the housing crisis!
Elizabeth Razzi: I think you answered it right there. Prices below $200k were cheap for a house so close to DC & Metro. What goes up must come down? Are you sure about that? Guess I'd better cash out all my investments and live in a cave.
Maryann Haggerty: Historically, real estate prices have tracked inflation.