There’s Now a Quasi-Legal Cryptocurrency Just for Real Estate [The Merkle] People are buying houses after viewing them over VR, and paying for them with bitcoins. The future is here, and it’s a really corny cyberpunk novel.
A Record-Setting Home Sale East of the Anacostia [Urban Turf DC] You’re going to see this headline a thousand times over the next five years.
DC Stops Condo Construction On Adams Morgan Plaza [WAMU] I hate to be a naysayer, contrarian, or “Negative Nelly,” but to be fair, this plaza is hideously unwelcoming and I’ve never seen people hanging out there, unless they were vomiting after a night out at the 18th Street bars.
Rich SF Residents Furious After Their Street and Sidewalks Are Sold [The Guardian] Imagine you’re a super-wealthy San Franciscan and you wake up one morning and find out that your street had been sold in an online auction over a three figure tax debt, to a guy who was now talking about renting out the parking spaces. Do you buy the street back at a huge markup, or google “how to hire a hitman without getting caught”?
This Beach Cottage Is On the Market for $55 Million [The New York Times] The cottage’s name is “Kilkare.” Any time a house has a name, you can just add like two zeroes onto its price.
The District Can’t Decide How to Fix City-Owned Blighted Houses [Washington City Paper] Even considering that they can’t be razed, since they fall within the Anacostia Historic District, these houses would sell in less than a week if the city put them on the market. Meaning that the District is holding onto them in anticipation of the market rising. Makes sense for an individual, sure, but who actually benefits when the government is profiting off a real estate boom?