Living

To buy or not?

The rental market has gotten increasingly competitive as people wait out the economy

Published

15 years ago

October 17, 2011

The decision to rent or buy a home is a highly personal one. It includes many factors such as the status of your savings (or access to gift funds from a family member or friend), preference for housing location, job stability or expected length of residency in your geographic location as well as many others.

Here in the Washington area, we are blessed with a relatively stable economy and housing market. While we see shifts and changes in the market at times, the market has been mostly consistent compared to other cities around the country and it has progressed without major declines.

This can be attributed to a wealth of federal jobs, which provide steady incomes and strong job security, as well as an extremely high percentage of residents with college degrees, which in most cases translates to higher incomes. According to CNN Money, D.C. workers enjoyed the highest salaries of any major U.S. city in 2010 with a median household income of $85,198. Additionally, there is a constant transition in Washington with many people moving in and out of the area each year from other towns and cities. All these factors combine to sustain a healthy housing market, even in the midst of national economic problems.

Generally speaking, if you are planning to live in a certain location for around five years or more and you have a stable income, you should consider making a home purchase. Right now interest rates are at a historic low making money “cheap” and allowing for lower monthly payments than in recent years. Also, being a homeowner saves you money in taxes, which can be enjoyed on your total tax bill or can be adjusted for each paycheck based on your deductions. If you live within the District of Columbia, first time buyers also qualify for a $5,000 tax credit which comes off your total tax bill, allowing for an additional savings to the general homeowner savings.

Rents are also on the rise in our area, making buying a home an even more attractive prospect. Since more would-be first time homebuyers are “waiting out” the economy and housing market problems, the rental market has become saturated, making it more expensive and more difficult to find a rental. As a test case, I looked at one-bedroom rentals in Dupont Circle that have rented in the past 90 days. In that time, nine properties have rented – each of them in 15 days or less for an average of six days on market. Four of the nine even rented within the first day.

The prices for these properties ranged from $1,800 to $3,050, with an average rent of $2,450. All of them except for the most expensive of the bunch rented for full list price. In previous years when the rental market was not as strong, renters had more flexibility in negotiating for a lower price and often were not competing with multiple applications. Today, most properties see multiple rental applications, allowing landlord to be more selective and causing more difficulty for renters, especially those who have pets or do not have perfect credit.

Conversely, purchasers are still getting great deals on home purchases and as mentioned previously, have the opportunity to buy with the lowest interest rates in history. While we are starting to see some multiple contract situations and even some escalation clauses for home purchasers, these are still not the norm and buyers can still find good properties at good prices.

For example, a recent client purchased a one bedroom/one-and-a-half bath condo in excellent condition in the Kalorama Triangle neighborhood of D.C. for $399,900. Using an FHA loan, they were able to put down 3.5 percent and now have a monthly payment (including the condo fee) of roughly $2,350 – $100 less than the average rental in that area. The monthly savings would be even more significant if they were to do a conventional loan with 20 percent down. When you add in the $5,000 first time homebuyer credit plus about a $350 per month in tax savings just for owning a home, this is a great investment.

If you are debating whether to rent a home or to purchase one, it is always a good idea to talk to both a real estate agent and a lender to review all the options and see what makes the most sense for your personal and financial situations at the given time. If you have any questions about the article or the housing market in general, please don’t hesitate to contact me – I am always happy to help.

Sue Goodhart is the top-producing agent at McEnearney Associates in Alexandria and is licensed in D.C., Maryland and Virginia. She can be reached at 202-507-7800 or sue@suegoodhart.com.

Related Topics:Dupont Circle real estate market

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Introducing Next-Generation Assisted Living & Memory Support.

Now Available in Tysons: Kokua at The Mather

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5 hours ago

May 28, 2026

Autos

A magical Mercedes

S-Class continues to define what luxury really means

Published

5 days ago

May 23, 2026

Joe Phillips

Mercedes S-Class

At my stage of life — “somewhere between 40 and death,” as the iconic line goes in the musical “Mame” — I want some pampering. A lot of pampering.

Luckily, for anyone who constantly craves a soothing spa, steam room or sauna, there’s the completely updated Mercedes S-Class. This flagship sedan is now so full of glitz, glamour, and gee-whiz gadgetry, it gives new meaning to the term “auto erotica.”

Does this make the S-Class a “gay” ride? For me, any vehicle that pushes my buttons like this one is a Kinsey 6.

MERCEDES S-CLASS

$122,000 (est.)

MPG: 21 city/31 highway

0 to 60 mph: 4.3 seconds

Trunk space: 19 cu. ft.

PROS: Exceptional comfort. Ultra-quiet cabin. Cutting-edge safety.

CONS: Price climbs fast. Tech learning curve. Sportier competitors.

The S-Class continues to define what luxury really means, with a bolder silhouette, larger grille, and striking, next-gen LED headlights. There’s also an optional illuminated Mercedes star on the hood. Overall, nearly 2,700 parts are new or improved, so more than 50 percent of this vehicle has been updated. An extreme makeover, to be sure.

At the same time, this latest S-Class leans harder into intelligence and electrification than ever before. Under the hood, a range of turbocharged inline-six and V8 engines — paired with mild-hybrid systems — deliver power in a way that seems almost edited for smoothness. Braking is solid and strong, too, but never abrupt. All the engineering is fine-tuned and intentional.

Yes, the top-of-the line S580 version is more expensive, almost $140,000. But it’s also blisteringly fast, zipping from 0 to 60 mph in just 3.9 seconds. That’s as lickety-split swift as a Lamborghini Revuelto supercar, which has a starting MSRP of $610,000 and can easily exceed — yowza! — $800,000.

Colors? There are 150 to choose from for the exterior and 400 for the interior. You can even customize the illuminated door sills, interior stitching and wheel accents.

And the ride quality? Sublime. Adaptive air suspension reads the road constantly, leveling out imperfections before they even register. Rear-axle steering enhances maneuverability, making this full-sized sedan feel surprisingly nimble in tight spaces. On the highway, the S-Class simply glides like a private yacht on the calmest of seas — extremely quiet, composed and completely unbothered.

Whenever you slide inside, the cabin immediately sets the tone. A massive OLED digital display — the same high-def technology used for cinematic viewing and gaming monitors — anchors the dashboard, running the latest MBUX infotainment interface. Highly customizable, this software allows for advanced voice commands that feel natural, not forced. And an augmented-reality navigation system takes your route and overlays it onto live camera feeds. It’s intuitive — mostly, as there is a learning curve for all this cutting-edge gear. Overall, though, such amenities make older setups feel like dial-up internet.

A Burmester surround-sound stereo is available in 3D or 4D, with up to 31 speakers, 1,690 watts and tactile transducers in the seats that vibrate and pulse with the music. Those seats are, of course, extremely comfortable. And the seatbelts? These are now heated.

Let’s not forget the latest cabin air-filtration system, which can remove ultra-fine particles to deliver air quality that rivals medical environments. Clean air, yes, but even this seems like a special treat. It’s like being swaddled in couture, not ready-to-wear.

And lastly, there’s the rear-seat area, which — to be honest — is where the S-Class really shines. Executive packages offer multi-contour reclining seats with rapid heating and ventilating, heated armrests and massage functions. You can opt for a footrest, which ups the glam factor to give you a calf massage. Dual 13.1-inch display screens come with their own remote controls. There’s also a video-conferencing feature, to help transform the rear cabin into a fully connected mobile office. For me, it feels less “back seat” and more “private lounge.”

Even in fiction, high-tech luxury carries weight. Tony Stark helped cement the idea that state-of-the art vehicles can be aspirational, not just practical. The magical S-Class fits right into that narrative — minus the flying suit (for now).

Advice

I’m a 64-year-old single gay man and I hate my life

How can I turn things around before it’s too late?

Published

6 days ago

May 22, 2026

Michael Radkowsky

I’m officially old, maybe even nearing the finish line and I’m getting bitter.

Dear Michael,

I’m a 64-year-old single gay man and I hate my life.

I’ve never had a relationship that lasted more than a few months. I can’t say why. I don’t think I’m defective. I wasn’t unattractive when I was younger (still not bad looking), I think I’m an interesting person to spend time with, but everything always seemed to fizzle out.

Thankfully, I missed AIDS because I came out after people knew what to do. Sometimes I wonder if fear of contracting the virus metastasized into a fear of getting close. I don’t know. I don’t think I’ve consciously kept people away. Consciously I have wanted someone to share my life with, very much.

With my 65th birthday and official senior citizen status approaching, I’ve been taking stock of my life and am coming to the hard realization that I’m never going to find that elusive partner.

I don’t go out anymore because people look right through me, except the ones who have a fetish for older guys. No one’s actually interested in me as me, a unique person rather than what they see on the surface.

I’m tired of my coupled friends. They’re always talking about “we.” Yes, I have become resentful that they have what I want and will never get. I know that’s not admirable but it’s how I feel, secretly, and I am sick of feeling like this when I am around them. So why be around them?

And I’m tired of my friends who are focused on sex all the time. It just all feels like a waste of time. I don’t get anything from a hookup anymore, they’ve been feeling increasingly meaningless. I feel like I’m someone’s momentary opportunity to get off, rather than any kind of real connection.

I’m just sick of the whole chase I’ve been doing for the last 40+ years.

I’m realizing that the whole thing has been pointless, a quest for a partner who is never going to materialize and a lot of diversions along the way that have added up to a despairing feeling that I’ve wasted my life trying to get something that will never happen.

Gay life hasn’t been so gay for me. And I’m officially old, maybe even nearing the finish line. Yes, if you haven’t noticed, I’m getting bitter.

What do I do with this dead end?

Michael replies:

How about looking for a different road to go down?

I’m not going to challenge your belief that you aren’t going to find a partner. I think it’s possible that you could, because there are other guys out there, in your age range, who are looking. But you have no guarantee, especially if you have decided to take it off the table.

So what else can you do with your life? How can you make your remaining time on this earth well-lived?

From your letter, it’s clear what you don’t want to do: Look for a boyfriend, hook up, or spend time with your current friends. Surely there must be more possibilities for your life than those options.

So my advice is to figure out some things you care about and start doing them. Travel? Volunteering? Getting a companion animal? Taking classes? Finding a new career? Those are just a few of the ideas I can come up with, but I don’t know you. What ideas can you generate, that you suspect you’d like to pursue?

In other words, start putting one foot in front of the other and go in some new directions that intrigue you enough to explore.

Sitting around feeling miserable does not help you to get anywhere. It keeps you feeling miserable. Sitting around waiting to feel better does not lead you to feel better. What would help you get to a better place would be to start taking action on your own behalf. Always keep in mind that while you are alive, with your faculties intact, you do have the choice to take this step, over and over and over again.

If you give yourself something (or some things) worthwhile to put your focus on, and do your best to shift your focus there whenever you notice that you are lamenting, I’m hopeful you will create a more fulfilling and meaningful life.

I’m also hopeful that if you are spending time doing things that you actually enjoy and that enrich your life, you may find more satisfying companionship than you are experiencing with your current friend group. (And yes, this could include a romantic relationship if you decide to be open to this possibility.)

A brief reply in an advice column can point you in the right direction, but it is likely not enough to sustain and motivate you through a major life overhaul.

Therefore, I suggest that you find a therapist to help you figure out how to move forward and what to move toward; and also to grieve, and put to rest as best you can, the loss of the life you hoped you would have.

I know that transcending the loss of a huge lifelong dream may seem impossible. But working toward this, as best you are able, would help you.

Relatedly, one more thing that I hope you can address with a therapist is your bitterness. I do understand why you feel so bitter, and I also think that it is torquing your life in a downhill direction.

Michael Radkowsky, Psy.D. is a licensed psychologist who works with couples and individuals in D.C., Maryland, Virginia, and New York. He can be found online at michaelradkowsky.com. All identifying information has been changed for reasons of confidentiality. Have a question? Send it to [email protected].