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Who in the world would buy or sell a house in the DMV right now?
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Anonymous
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With all this instability?
It seems like a really, really reckless move. |
Anonymous
| Probably those in need. |
Anonymous
| I would buy if the price was right. I work in the private sector serving commercial clients. |
Anonymous
| If someone is not getting a mortgage, and they don't care about the value of their house going down, then it's fine. Otherwise, if anyone works for the federal government, it's particularly reckless. And even for private sector employees, there's no safety because decreased public sector employment will adversely affect most private sector businesses. |
Anonymous
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People who want to buy and sell?
I know Musk dropped the equivalent of a nuclear bomb (ten of them?) right into the heart of the Feds but most of us are not feds. However, I will be watching what unfolds with interest. |
Anonymous
hello? The loss of employment will extend far beyond feds (contractors, NGOs, etc. etc) |
Anonymous
| Plenty of non feds. Plenty of tech. Plenty of hospitality. Plenty of education. Plenty of Amazon. Plenty of space. Plenty of military support. … |
Anonymous
There hasn’t been a safety net for private sector employment in decades. People in the private sector, especially those far removed from the fed and gov’t contractors, have learned to live with this. Some can afford the risk and buy on the dip. |
Anonymous
| The only people buying are tromp appointees he’s bringing in from the hinterlands, and they are paying top dollar only to sell at 25% in 4 years |
Anonymous
I know plenty of non-appointees with money waiting for prices to drop. I’d buy some investment properties if prices were to drop to an attractive level. |
Anonymous
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There's still a lot of family money behind buyers who are looking to move into SFHs in good school districts or nearby private schools--upper NW, close in MoCo, Arlington, McLean, etc.
The private sector may or may not take a hit. It's still too early to tell how things will shake out. Some private sector attorneys are expecting that there will be a ton of lawsuits precisely bc of the Trump admin's reckless EOs; some are predicting less business if directly tied to the public sector. As for feds, again, still too early to tell. These EOs are not legally enforceable. There will be a shaving of some fed positions, and lots of early retirements, but RTO will happen at the same time, meaning people may want to look into buying something closer in. I'd wager that SFHs WOTP under $2M will sell. There's still a major shortage of homes. Again, lots of young families with family money, and enough private sector incomes. |
Anonymous
| I would buy a new house if I got a great deal. |
Anonymous
| People who have a desire to buy who can afford it are still buying now. A lot of people don’t run the numbers or frankly care. The ownership belief is strong, and they hate throwing money away on renting. |
Anonymous
| " Buy when there is blood in the streets," |
Anonymous
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I know the news is rapid fire, but a $3MM house went on the market in CC DC about 8 days ago and is already under contract.
I guess we will see if the sale actually happens. The real question is if a jump in inventory in say Silver Spring (as an example of a neighborhood where feds need to sell) will somehow significantly impact say CC MD where you have almost no active feds (though a bunch of retired feds). |