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Glad to see you voting with your feet.  Well I guess moving to Silver Spring is about the same!  Good luck.  I hope you can continue your writing, as you are one of the better ones around here now -- even if I don't agree with your perspectives.

1.  Is this a sign of a bubble?  As I've said before, I don't think the DC area market is particularly bubble like.  Plenty in excess in markets like Petworth or NE right now, but not a bubble.  A good sign of a bubble is when everyone starts getting too interested in real estate and making a buck off it.

2.  Will the great millennial move to houses occur?  Is is already over? Will people just leave the area?   If rates go up to 6% what are people going to do?  Also is the real estate agent going to get eaten in the zillow era?    I understand first timer liking the handholding, but second time?  Third?  Also everyone says the money is in selling, not as a buyers agent although the money looks the same to me.

3.  I'd be curious to know if Dan's macro point -- younger people moving to smaller, urban like areas -- pans out, or whether it just becomes easier to dump newcomers into "hot" markets with lots of transactions.  I know when I was looking I would have preferred a lot of the slower submarkets, but the deal flow is so slow I was sort of forced into U st.  And that is with a year long search!  If you have a job and need to move in a month....