Here comes the NIH layoffs. MoCo about to get torched?

[Anonymous]

Reports in the news that HHS is laying off tons later today. NIH is a prime target. They're the largest employer in MoCo. MD is going to be slammed with unemployment claims, and MD already has ghastly finances. MoCo keeps raising property taxes because they need more and more money, so what happens when this crushes property values in MoCo? It'll severely depress the county's revenue stream. Also, don't forget, Elrich warned about this months ago and said something along the lines of mass fed layoffs would be catastrophic for MoCo, and the solution might be raising taxes.

MoCo is going to be obliterated.

[Anonymous]

I am worried about our house value (among many other things). There is likely going to be a glut of houses going on the market as people leave the area for different jobs. And buyers will be price constrained. The DC area is about to lose it's stable residential RE sector. It's not just MoCo though - DC and VA will also be hit hard.

[Anonymous]

Anonymous wrote:I am worried about our house value (among many other things). There is likely going to be a glut of houses going on the market as people leave the area for different jobs. And buyers will be price constrained. The DC area is about to lose it's stable residential RE sector. It's not just MoCo though - DC and VA will also be hit hard.

Pretty much

[jsteele]

https://www.dcurbanmom.com/jforum/posts/list/1256914.page