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Last week, I blogged a rare bit of positive real estate news: D.C.’s office vacancy rate hadn’t dropped at all in the last year. Our stocky, non-descript downtown “high-rises” are still just as full with stocky, non-descript, downtown workers as they were before America descended into economic hell.
The consistency is even more astonishing when you consider this: D.C.’s vacancy rate—-8.3 percent—-is nearly half the national average. “The office vacancy rate nationwide rose to 15.2% from 14.5% in the previous quarter, and likely will surpass 19.3% over the next year,” states a story out in today’s Wall Street Journal.