DC Auction Sees Huge Turnout, High Bids
The DC government must be very pleased with how its home auction turned out last Friday. The auction, which included 30 dilapidated residential properties that Mayor Fenty had labeled "neighborhood eyesores," saw a huge turnout -- non-bidders were turned away at the door -- and grossed almost $5 million, according to the Washington Post. The buying frenzy was a welcome contrast to the housing market lethargy reported in the media on a daily basis.