Washington Rents Eclipse New York

The Wall Street Journal has a story that says a lot: "The office market in Washington, D.C., is poised to topple New York as the nation's most expensive, reflecting the declining fortunes of the nation's financial center and the government expansion under way in the U.S. capital." According to the article, "Of the 16 largest leasing transactions in Washington last year, 10 were by government agencies." Government expansion, indeed.