Is there going to be panic selling?

[Anonymous]

No way. Why?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:A friend on the Hill is seeing for sale signs popping up.

Just did a Redfin search. 44 listings in the last 7 days. 29 of them already pending. Truly a bloodbath.

So Musk is planning on eliminating 75% of federal employees and 95% of federal contractors. They have eliminated 0.06% so far. Look at the panic and hate. If Musk eliminates just 5% this area will be is a depression.

If he does that, there will not be any military or police to protect him from pitch fork wielding mobs coming for him.

[Anonymous]

Anonymous wrote:Wouldn’t the RTO counter this trend a bit in DC proper? I know of many businesses that closed downtown during Covid. Hopefully those restaurants, bars, businesses will reopen now that most people need to be in the office 5 days a week. Also, with the RTO in place so see more people wanting to live in DC and move closer if they had previously prioritized larger homes in quieter areas because they only needed to commute a couple of days a week.
We also own and react out a few homes in DC and I am worried about people leaving the city.

Prices of restaurants are insane right now , if people spend they will be living paycheck to paycheck check to pay check.. they have to spend money on commute , parking and food .. it will disturb their budget .

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:A friend on the Hill is seeing for sale signs popping up.

Just did a Redfin search. 44 listings in the last 7 days. 29 of them already pending. Truly a bloodbath.

So Musk is planning on eliminating 75% of federal employees and 95% of federal contractors. They have eliminated 0.06% so far. Look at the panic and hate. If Musk eliminates just 5% this area will be is a depression.

If he does that, there will not be any military or police to protect him from pitch fork wielding mobs coming for him.

Really? YOU, personally will pick up a pitchfork and go after him? I highly doubt that.

1. Because you and others like you have no balls. The average person has the will to fight of a dog. (I have references somewhere, will have to dig it up).
2. I mean...you think he's gonna just stand in an open ground and wait for morons like you? He's got better security than that. Hint: Richest person in the WORLD...

[Anonymous]

Don’t forget they’ve also said that they want to move some of the agencies out of the DMV.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:A friend on the Hill is seeing for sale signs popping up.

Just did a Redfin search. 44 listings in the last 7 days. 29 of them already pending. Truly a bloodbath.

So Musk is planning on eliminating 75% of federal employees and 95% of federal contractors. They have eliminated 0.06% so far. Look at the panic and hate. If Musk eliminates just 5% this area will be is a depression.

If he does that, there will not be any military or police to protect him from pitch fork wielding mobs coming for him.

Really? YOU, personally will pick up a pitchfork and go after him? I highly doubt that.

1. Because you and others like you have no balls. The average person has the will to fight of a dog. (I have references somewhere, will have to dig it up).
2. I mean...you think he's gonna just stand in an open ground and wait for morons like you? He's got better security than that. Hint: Richest person in the WORLD...

Musk probably has retired members of the Royal Gurkha Rifles protecting him. I saw them in action in Afghanistan and even the Taliban was afraid of them.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Wouldn’t the RTO counter this trend a bit in DC proper? I know of many businesses that closed downtown during Covid. Hopefully those restaurants, bars, businesses will reopen now that most people need to be in the office 5 days a week. Also, with the RTO in place so see more people wanting to live in DC and move closer if they had previously prioritized larger homes in quieter areas because they only needed to commute a couple of days a week.
We also own and react out a few homes in DC and I am worried about people leaving the city.

Prices of restaurants are insane right now , if people spend they will be living paycheck to paycheck check to pay check.. they have to spend money on commute , parking and food .. it will disturb their budget .

I’d think the point of moving into DC is to avoid commute and parking expenses and also time waste. Also don’t need to eat out, can bring your own lunch or get a discount lunch take out plan like MealPal

[Anonymous]

Anonymous wrote:Don’t forget they’ve also said that they want to move some of the agencies out of the DMV.

“They also said”. Like what? Who said and where, and what agencies. There are already agencies outside of DMV and they’re getting layoffs too. They aren’t just coming after DMV area specifically and I haven’t seen anywhere that the only purpose of this work and the goal of their “success” would be to trash DC and its environs. Beyond some idiotic tweets by engagement farming MAGA accounts measuring “success” of DOGE by the percent of RE prices decline in DCmetro, I haven’t seen anything from any official accounts

[Anonymous]

It seems like the Federal employees who were mandated RTO will want to buy houses closer to DC so an increase in demand. It doesn't make any sense for people to sell their houses ASAP. Have they found a new job in another location that quickly? Do they want to uproot their children or would they try to find another job in an area that has plenty of other industries, like tech?

[Anonymous]

Anonymous wrote:It seems like the Federal employees who were mandated RTO will want to buy houses closer to DC so an increase in demand. It doesn't make any sense for people to sell their houses ASAP. Have they found a new job in another location that quickly? Do they want to uproot their children or would they try to find another job in an area that has plenty of other industries, like tech?

Why would they do that when the president is threatening their job right now?

[Anonymous]

I think not, esp for those with very low interest rates. People have to live somewhere and that may be cheapest option.

People should qualify for a heloc while employed, just in case.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:A friend on the Hill is seeing for sale signs popping up.

Just did a Redfin search. 44 listings in the last 7 days. 29 of them already pending. Truly a bloodbath.

So Musk is planning on eliminating 75% of federal employees and 95% of federal contractors. They have eliminated 0.06% so far. Look at the panic and hate. If Musk eliminates just 5% this area will be is a depression.

Just making up numbers now? 95% of federal contractors?

Yes federal contractors will be protected when the project is cancelled

[Anonymous]

Anonymous wrote:

Anonymous wrote:what sort of financial sense would it make to "panic sell" the roof over your head that you likely have with a sub 5% mortgage rate? Even moving to a MCOL or LCOL location - with rates as high as they are - it makes no financial sense.

The premise of this thread is that many people will be unemployed. If you were living paycheck to paycheck (and unfortunately, many people with 6-figure incomes do), and you can no longer afford your mortgage, than the only move that makes "financial sense" is to sell rather than having the house taken by foreclosure. Will it happen on a large scale in this area? I doubt it, but who knows.

People are much more likely to rent their home at $mortgage+ and hold on to the prime real estate. If you can hold on for a few years, things may change for the better. There are constantly people coming to the area for short term gigs who would rather rent a house than buy, particularly internationals and politicos.

[Anonymous]

Rent to whom? Too many homes, not enough jobs

[Anonymous]

Anonymous wrote:Rent to whom? Too many homes, not enough jobs

This is DC. People are always coming and going from all over the country and the world.