Is there going to be panic selling?

[Anonymous]

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My friend is panic selling. They are not feds but know the DC market will go down so they want to get the most amount out of their house.

Where will they go? Rent or move away from the area and abandon their jobs here?

It’s expensive to live in the DMV area. You can go to some red state and get a nice house for 250k. Crap schools probably but maybe you can help flip that state blue along with the other fired Feds fleeing the DC area

In lots of flyover country, schools are actually comparable or much better than the best schools in the dc area. You just have to look in places that attract educated people like areas around major universities.

These places are not cheap. Most cities that had become sanctuaries for the yuppies fleeing HCOL metro areas are now no longer a bargain compared to DC, and some have similar prices in the neighborhoods you would want to live in coming from here.

Actually they are. I have friends who live in Ohio and Iowa. Nice, newer houses with 3-4 bedrooms are $500K (older houses are cheaper), and elementary, middle, and high schools are 7 or 8 on greatschools.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My friend is panic selling. They are not feds but know the DC market will go down so they want to get the most amount out of their house.

Where will they go? Rent or move away from the area and abandon their jobs here?

It’s expensive to live in the DMV area. You can go to some red state and get a nice house for 250k. Crap schools probably but maybe you can help flip that state blue along with the other fired Feds fleeing the DC area

In lots of flyover country, schools are actually comparable or much better than the best schools in the dc area. You just have to look in places that attract educated people like areas around major universities.

These places are not cheap. Most cities that had become sanctuaries for the yuppies fleeing HCOL metro areas are now no longer a bargain compared to DC, and some have similar prices in the neighborhoods you would want to live in coming from here.

+1 This is why I think many people in DC will stay put if they have a way to stay afloat. The mid-size cities with nice neighborhoods and good public schools are just as expensive as similar neighborhoods in the DC area since the pandemic.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My friend is panic selling. They are not feds but know the DC market will go down so they want to get the most amount out of their house.

Where will they go? Rent or move away from the area and abandon their jobs here?

It’s expensive to live in the DMV area. You can go to some red state and get a nice house for 250k. Crap schools probably but maybe you can help flip that state blue along with the other fired Feds fleeing the DC area

In lots of flyover country, schools are actually comparable or much better than the best schools in the dc area. You just have to look in places that attract educated people like areas around major universities.

These places are not cheap. Most cities that had become sanctuaries for the yuppies fleeing HCOL metro areas are now no longer a bargain compared to DC, and some have similar prices in the neighborhoods you would want to live in coming from here.

+1 This is why I think many people in DC will stay put if they have a way to stay afloat. The mid-size cities with nice neighborhoods and good public schools are just as expensive as similar neighborhoods in the DC area since the pandemic.

This is so blatantly false. Just pull up the US News list of best high schools, and search for homes in those areas. They are nowhere close to DC prices, and you don't have to deal with awful commutes. What's actually surprising is how mediocre the public schools are in the DMV despite the wealth and education of the people who live here.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My friend is panic selling. They are not feds but know the DC market will go down so they want to get the most amount out of their house.

Where will they go? Rent or move away from the area and abandon their jobs here?

It’s expensive to live in the DMV area. You can go to some red state and get a nice house for 250k. Crap schools probably but maybe you can help flip that state blue along with the other fired Feds fleeing the DC area

In lots of flyover country, schools are actually comparable or much better than the best schools in the dc area. You just have to look in places that attract educated people like areas around major universities.

These places are not cheap. Most cities that had become sanctuaries for the yuppies fleeing HCOL metro areas are now no longer a bargain compared to DC, and some have similar prices in the neighborhoods you would want to live in coming from here.

+1 This is why I think many people in DC will stay put if they have a way to stay afloat. The mid-size cities with nice neighborhoods and good public schools are just as expensive as similar neighborhoods in the DC area since the pandemic.

This is so blatantly false. Just pull up the US News list of best high schools, and search for homes in those areas. They are nowhere close to DC prices, and you don't have to deal with awful commutes. What's actually surprising is how mediocre the public schools are in the DMV despite the wealth and education of the people who live here.

People don't move to an area just for schools and a palatable cookie cutter suburban house in a sprawl subdivision. There is plenty of it here around DC if you don't insist on being near DC proper. And there is Baltimore and Richmond too

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My friend is panic selling. They are not feds but know the DC market will go down so they want to get the most amount out of their house.

Where will they go? Rent or move away from the area and abandon their jobs here?

It’s expensive to live in the DMV area. You can go to some red state and get a nice house for 250k. Crap schools probably but maybe you can help flip that state blue along with the other fired Feds fleeing the DC area

In lots of flyover country, schools are actually comparable or much better than the best schools in the dc area. You just have to look in places that attract educated people like areas around major universities.

These places are not cheap. Most cities that had become sanctuaries for the yuppies fleeing HCOL metro areas are now no longer a bargain compared to DC, and some have similar prices in the neighborhoods you would want to live in coming from here.

+1 This is why I think many people in DC will stay put if they have a way to stay afloat. The mid-size cities with nice neighborhoods and good public schools are just as expensive as similar neighborhoods in the DC area since the pandemic.

This is so blatantly false. Just pull up the US News list of best high schools, and search for homes in those areas. They are nowhere close to DC prices, and you don't have to deal with awful commutes. What's actually surprising is how mediocre the public schools are in the DMV despite the wealth and education of the people who live here.

People don't move to an area just for schools and a palatable cookie cutter suburban house in a sprawl subdivision. There is plenty of it here around DC if you don't insist on being near DC proper. And there is Baltimore and Richmond too

Well we sorta just did that…when I lost my job in DC and got a new one in Baltimore we moved to Severna Park to a new construction house…in a row of houses all alike with 10/10 schools. We had a shit ton of equity in our DC rowhouse and although the new area is pricey by MD standards, it’s significantly cheaper than DC. There are a lot of people here that left DC, Arlington or Alexandria to move here.

[Anonymous]

Highest cost of living:

San Jose, California – $3,695/month (74% above national average)
New York City – $3,639/month (71% above national average)
Boston – $3,410/month (60% above national average)
San Francisco – $3,359/month (58% above national average)
San Diego – $3,324/month (56% above national average)
Los Angeles – $3,113/month (46% above national average)
Seattle – $3,049/month (43% above national average)
Washington, D.C. – $2,991/month (41% above national average)
Miami – $2,867/month (35% above national average)
Portland, Oregon – $2,758/month (30% above national average)

[Anonymous]

If I lose my job, of course I am going to look to see if I can find employment where my quality of life is better (which includes salary, cost of living, congestion/traffic, and other factors). Definitely not going to limit myself to DC even though I have substantial equity in my SFH. I generally like it here, but make no mistake, this is a high stress, expensive, competitive area with awful traffic — perhaps people should be more open minded about alternatives.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My friend is panic selling. They are not feds but know the DC market will go down so they want to get the most amount out of their house.

Where will they go? Rent or move away from the area and abandon their jobs here?

It’s expensive to live in the DMV area. You can go to some red state and get a nice house for 250k. Crap schools probably but maybe you can help flip that state blue along with the other fired Feds fleeing the DC area

In lots of flyover country, schools are actually comparable or much better than the best schools in the dc area. You just have to look in places that attract educated people like areas around major universities.

These places are not cheap. Most cities that had become sanctuaries for the yuppies fleeing HCOL metro areas are now no longer a bargain compared to DC, and some have similar prices in the neighborhoods you would want to live in coming from here.

Actually they are. I have friends who live in Ohio and Iowa. Nice, newer houses with 3-4 bedrooms are $500K (older houses are cheaper), and elementary, middle, and high schools are 7 or 8 on greatschools.

Great schools ratings arent comparable across states. A 7 or 8 in Oklahoma isn’t the same as a 7 or 8 in Massachusetts.

[Anonymous]

Anonymous wrote:Highest cost of living:

San Jose, California – $3,695/month (74% above national average)
New York City – $3,639/month (71% above national average)
Boston – $3,410/month (60% above national average)
San Francisco – $3,359/month (58% above national average)
San Diego – $3,324/month (56% above national average)
Los Angeles – $3,113/month (46% above national average)
Seattle – $3,049/month (43% above national average)
Washington, D.C. – $2,991/month (41% above national average)
Miami – $2,867/month (35% above national average)
Portland, Oregon – $2,758/month (30% above national average)

What's your point?

[Anonymous]

Im seeing it already!

[Anonymous]

Anonymous wrote:Yes a lot of us just got laid off at the major contractors this week.

I'm sorry to hear that. This is awful.

[Anonymous]

Anonymous wrote:Panic selling because . . .?

Because people have lost their jobs, and they likely cannot afford their mortgage without comparable employment.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My friend is panic selling. They are not feds but know the DC market will go down so they want to get the most amount out of their house.

Where will they go? Rent or move away from the area and abandon their jobs here?

It’s expensive to live in the DMV area. You can go to some red state and get a nice house for 250k. Crap schools probably but maybe you can help flip that state blue along with the other fired Feds fleeing the DC area

Nice house for 250k? Where, I mean which decade are you writing this from?

We live in a nice house in NJ that
cost $238,000 in 2024.

[Anonymous]

If there is panic selling then who will be buying?