The story does have some substance, in bringing to light the micro-industry of outfitting spaces just for dudes. There's Mancavemarket.com, Man Cave LLC, and the "Official" Man Cave Site, not to mention the DIY Network's show Man Caves. As usual, the story founders on its attempt to identify a broader societal trend, this time in the sphere of gender relations.

The man cave has a secret: Women use them, too. Their new interest comes as these spaces have morphed from cold garage outposts into tricked-out comfy spreads, complete with flat screens TVs, fully stocked bars, arcade games and plush (clean!) furniture.

Women, we learn, are taking more interest in men's dens because they're comfy and increasingly tricked out–and also because they cost more, and God knows those tightfisted wives keep a close watch on their husbands' expenses. But what happens if the Cave becomes too inclusive, blurring the lines between a Y-chromosome zone and just a family room? The proprietor of mancaveinteriors.com says that men are starting to "take charge" of their own spaces again. Though some never let go in the first place.

Mr. Sattler flips on an outdoor blue light to let the neighbors know when his "underground lounge" is open, but jokes that women, including his wife, typically stop by only if "they are dropping off food or bringing cleaning products."

I don't know whether to feel more nauseous because men actually spend hundreds of thousands of dollars outfitting rooms with NASCAR memorabelia where wives aren't welcome, or because the Journal happily declares that women invading those sacred spaces because once things become nice enough for female habitation. Either way–blarg.

The really eye-popping numbers come from Miami/Fort Lauderdale, where 27.6 percent of home mortgages are more than a month overdue, and Detroit, where house prices dove 18.8 percent from last year. Washington's an oasis!

The article also reported that 120,000 new units came on the market in 2009–"the most new construction since 2003"—including a number of buildings that were originally slated to be condos. That sounds like D.C.!

And yet...everyone that I know here in Washington has struggled to find a decent place. It takes hours of mind-numbing clicking on Craiglist, months of pounding the pavement.

And then, I get 12 paragraphs down:

Marcus & Millichap is to release a separate report on Friday that forecasts a further 2% to 3% drop in apartment rents over the next year, most of which will be concentrated over the next six months. The report forecasts Washington, D.C., will be the healthiest rental market in 2010 for the second straight year.

An old Monument Realty sign near the entrance to the Watergate Hotel. Rooms should be available right about now!

Back in July, I and many members of the national and international press corps packed into a small Friendship Heights office for the auction of the Watergate Hotel. BBC was there! And CNN! And then...and then...nothing really happened.

One offer was tossed out: $25 million from the original lender for the purchase of the hotel, PB Capital. No other hands shot up. Developer Monument Realty lost the property. PB Capital took it back.

Since then, the story's taken a few twists: In October, the Wall Street Journal reported that the hotel was under contract to “a venture led by Holland Development Group for a price that is expected to be in the $40 million range.”

But just today, DCmud reported that Holland is now out of the picture—but Monument Realty is back in again.

Right after the auction, DCMud talked to Monument's Michael Darby, "who indicated he had raised the necessary funds to buy back the property," but was turned down by the bank. But now, with Holland no longer interested in the building, rumor is Monument's steppin' up its efforts again (according to DCmud):

An industry source says Monument is seeking contractors for a "top to bottom renovation of the existing 13-story, 250-room hotel. Renovations will include reducing the number of rooms, while expanding the rooms that do remain to 650 s.f." The project costs are estimated at $20 million. When DCMud inquired about Monument's plans, Natasha Stancill, spokesperson for Monument, responded "we are going to pass on commenting." Which of course increased our suspicion.

Image by Ruth Samuelson

For last week's column, I wrote about the first-time homebuyer credit and provided some tips for people interested in taking advantage of the "free money," as we wrote on our cover.

Well now, the Wall Street Journal-–bunch of copy cats!—has a similar story on their website. I think we covered most of the same bases: the new income limitations; deadlines to be mindful of; communicating with your lender.

But the WSJ has some fresh material. Anyway, here are their added tips:

• Be mindful of interest rates

Interest rates are low right now, but will likely rise next year, Ms. Warren says. Higher rates will affect your monthly mortgage payments, thus the affordability of the house you are buying.

"It's pretty universally accepted that rates will be higher next year," she says. "What is unknown is how fast and by how much."

Average rates on 30-year fixed-rate mortgages have been hovering around 5%. But when the Federal Reserve stops buying large amounts of mortgage-backed securities next year, interest rates could rise, Ms. Warren points out. The Fed plans to end its purchase program in March.

• Don't count on another extension*

*Yeah, no extra detail necessary for this one. Members of Congress have already pronounced this extension as the last.

Image by Keeping it real, Flickr Creative Commons Attribution License

The original credit was set to expire on Nov. 30. Last week, we learned that the new version of the credit will extend to some current homeowners looking for their next purchase, and that it would apply to all contracts entered by the end of April, and closing before July 1 (via Wall Street Journal).

In July, reporters and camera men from news outlets all over the world piled into a Friendship Heights office to witness the auction of the foreclosed Watergate Hotel.

Too bad, no one really bid.

One offer was tossed out: $25 million from the original lender for the purchase of the hotel, PB Capital. A lot of hoopla for 'nothin.

But now, less than three months later, it looks like PB Capital has done what it set out to do: find someone willing to pony up serious cash.

(See shots into the Watergate Hotel building here.)

The Wall Street Journal is reporting that the hotel is under contract to "a venture led by Holland Development Group for a price that is expected to be in the $40 million range."

The hotel—hell, much of the complex—is in drab shape right now, and experts believe $100 million will be required to reopen it to guests, according to the Washington Post.

The Holland Development Group, according to its website, has properties around the city and the Washington metro region, including an area near the hotel called the "Barnhard Trust site," which it describes as the "last piece of developable ground between the Watergate and Georgetown Key Bridge, with access Rock Creek Park and park views."

On April 1, Marketplace aired a fake story about a home-buyer, who thought he was purchasing property in a vibrant neighborhood with great, active families living next door. Then, right after he moved in, the street went vacant. Where had the people gone? They were actors, he realized, "hired to play neighbors in an increasingly cutthroat real-estate market, where 'staging' a home now means much more than just putting out fancy deck furniture and baking cookies."

The entire piece was an April Fool's Day gag. But in this market, the story seemed so plausible, many listeners—including one City Paper staffer, though, no, not this one—believed it at first. 

And now, not on April Fool's Day, comes another very similar Wall Street Journal story. This one's entirely true, I think.

A company out in southern California is paying fancy-looking people to live in fancy-looking properties, and not really mention the whole deal when agents phone with questions. 

When a real-estate agent phones, Ms. Clavin says, " 'I live here' — because technically, I do," and provides a broker's number before the caller inquires further. She must keep the house spotless between 8 a.m. and 8 p.m. She usually gets only five minutes to light the candles, flip on music and disappear before a showing. If she has more time, she'll bake cookies to scent the home.

If the place sells in 90 days, she'll earn a relocation bonus, and move on to another empty asset.

Now, previously, I'd heard of businesses placing people in foreclosure properties to keep the houses occupied and bringing in some cash. Yet there was no talk of "auditioning" in that story. And as the article points out, southern California's a great place for this kind of business. There are plenty of actors around.

Image by Opal Community Land Trust, Flickr Creative Commons