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Foreign Investment: DC Slips

Washington, D.C.

Here's Association of Foreign Investors in Real Estate president Jim Fetgatter (snapped in his DC office today in snow day casual) bravely delivering the news about Washington: AFIRE's annual survey says we're no longer on fire among foreigners as a preferred place for real estate investment, pegging DC at #5 in the US instead of #4 last year (ahead of us: NYC, S.F., Houston and, now, LA), and as #15 globally instead of #10. (NYC is back in first place over London.) Jim says the "allure of Washington, DC, never fades," and long-term is in great shape. It's just at the moment the federal budget isn't making the economy here as attractive as "technology and energy drivers" in other cities. (Even our auto drivers skidding on the roads today aren't as attractive as usual.)