<p>Yes, that is true many are renting, and like anything in this world, this has created higher rental prices due to supply and demand. In the past 3 yrs we have rented out our home, to 3 different rentals, (1 yr contracts), and increased our rent from 1150 to 1350 currently. The home never sat empty for more than 24 hours. The reason it was 24 hours was because the old tenant would have a cleaning crew come in after they left before the new renters moved in. </p>
<p>The house also was never officially listed, it rented out because of word of mouth, and typically to a contact of the previous renter who informed them they were moving.</p>
<p>Good rentals at a good price in a good neighborhood are as hot as for sales were in 2003. The demand is high!</p>
<p>Hunt,</p>
<p>I agree with you for all the reasons you posted, would add a couple of more reasons.</p>
<ol>
<li><p>Every kid right out of college wants DC, because that is the happening area. They can not even fathom how expensive it is, I mean 1500 for a 500 sqft loft is a bargain.</p></li>
<li><p>They do not realize that entering the work world is like transitioning from HS to college. It is more likely that at 22 her BFF is not her HS BFF.</p></li>
</ol>
<p>The same will be true in a few yrs. Her friends will all have their own careers, they will fall in love, and many of these close friends will change due to life. </p>
<p>To lock into a 1 yr contract because of friendship ties to me is not smart. If her commute is so long, she will be exhausted and not even want to go out, thus the friendship will change just as much as if she lived further out.</p>
<p>I had a client who swore she wanted to live in DC, and I told her move out to Tysons near your office. It was a hard issue for her because her friends were living in DC. The irony was within a yr of her moving to Tyson, all the friends that teased her for that decision moved out there too because the cost of living in DC was killing them financially.</p>
<p>Again, another reason why DC is not smart. Hard to go to Dupont if you have 100 bucks left and 2 weeks until payday.</p>