Supply Of Lodging In DC For Obama’s Inauguration Has Ouststripped Demand

Amidst all the hype about Obama’s inauguration is this story looked over by most of the infatuated-with-Obama media:

Across the Washington region, homeowners’ dreams of a quick and easy payday are evaporating as the days tick down to President-elect Barack Obama’s swearing-in ceremony Jan. 20: The inaugural housing market has gone bust in record time.
Those who listed their properties within a week or two of Obama’s Nov. 4 election victory were able to score deals, but those who jumped on the bandwagon after that have largely been left without offers. . . .
“I’m blown away by how little demand there is,” said Tania Odabashian, vice president at Corporate Apartment Specialists in Northern Virginia.
“Initially, we were flooded with calls from people looking for [inaugural] housing. For about four or five days, the phone would not stop ringing. . . . But now we have apartments as low as $150 a night that we can’t get rid of. I’ve rented one two-bedroom in Tysons Corner. We have six or seven apartments inside the Beltway that will probably end up empty.”

Much as with Obama himself, the sensation of this impending inauguration has been over hyped.