Is there going to be panic selling?

[Anonymous]

My opinion on this Trump and Musk will not destroy their hometown for 4 years .
Yes they are firing and closing departments. DMV did not get affected in 2008 and certainly will not in 2025.
Sure they are going after certain areas and are trying to eliminate waste of our tax dollars .
But certain programs should stay in place .and I am sure they will create new departments. They are supposedly using common sense as running force. If that’s true critical programs they will keep and create new departments to deal with it .
RTO will increase demand for housing in DMV area. But it will affect other areas for sure .
But DMV is safe and maybe even prosper
Rent might go up for those who can not afford to buy. Who can with 7% mortgage. But if you are looking fir great deal DMV area is not the place ti look for.

[Anonymous]

Also I think they should ban foreign national to buy real estate properties. They should be allowed only rent . Houses should be sold to US citizens and Green card Holders .
Then prices might normalize and we can actually afford to buy.

[Anonymous]

Anonymous wrote:Between mass RIFs of feds and mass cuts with contractors, there is no way the local economy, including the RE market, won’t be impacted. It may take a year or so to see the full impacts, but there will be change.

I think its going to be sooner than a year as many high income live pay check to pay check but hopefully they will find a way to hold onto their house. But, unemployment will go sky high and spending will go down which will kill local and other busineses.

[Anonymous]

Anonymous wrote:My opinion on this Trump and Musk will not destroy their hometown for 4 years .
Yes they are firing and closing departments. DMV did not get affected in 2008 and certainly will not in 2025.
Sure they are going after certain areas and are trying to eliminate waste of our tax dollars .
But certain programs should stay in place .and I am sure they will create new departments. They are supposedly using common sense as running force. If that’s true critical programs they will keep and create new departments to deal with it .


Cheezus you have the critical thinking skills of a toddler. This is such a ridiculous assessment of what these loons are doing.
RTO will increase demand for housing in DMV area. But it will affect other areas for sure .
But DMV is safe and maybe even prosper
Rent might go up for those who can not afford to buy. Who can with 7% mortgage. But if you are looking fir great deal DMV area is not the place ti look for.

[Anonymous]

Well I guess time will show as always who was wrong and who was right ! It will show if I was clueless toddler or you were being the smartest adult !
But during greatest unknown is not a bad idea being a little optimistic and not great instill fear and despair!

[Anonymous]

Probably not panic selling, but a drop in housing prices in the DMV.

For years people have said that housing prices could never decrease in the DMV. They never have and they never will. Means the DMV was ripe for a black swan event to make that happen.

Now a large % of government and related jobs will be cut.

[Anonymous]

Anonymous wrote:Probably not panic selling, but a drop in housing prices in the DMV.

For years people have said that housing prices could never decrease in the DMV. They never have and they never will. Means the DMV was ripe for a black swan event to make that happen.

Now a large % of government and related jobs will be cut.

DMV housing prices dropped in the early 1990s, along with CA, TX and some other speculative markets at the time.

Everyone forgets the S&L crisis which had a a decent amount of speculative lending to the RE and oil & gas industries.

Early 1990s recession and the lending bust dropped prices from like 1989-1994.

[Anonymous]

Upper NW DC house for $1.5MM listed on Thursday already under contract.

FYI

[Anonymous]

One a few houses down from us in Potomac listed for $2.1M on Jan. 30 and was pending by Feb. 2. I’m not seeing the panic yet.

[Anonymous]

Nobody is going to be panic selling their house. There is almost nothing that can change the math of holding onto a house with a 3% fixed mortgage. A person that gets laid off would sell everything else but not the house.

[Anonymous]

Anonymous wrote:Nobody is going to be panic selling their house. There is almost nothing that can change the math of holding onto a house with a 3% fixed mortgage. A person that gets laid off would sell everything else but not the house.

Sure, but when they can’t find a job in the region and need to move…

[Anonymous]

Anonymous wrote:Probably not panic selling, but a drop in housing prices in the DMV.

For years people have said that housing prices could never decrease in the DMV. They never have and they never will. Means the DMV was ripe for a black swan event to make that happen.

Now a large % of government and related jobs will be cut.

Anyone who has lived here long enough knows housing prices can decrease here, like in the great recession most recently.

But I have to much equity in my house and too low of an interest rate to consider selling or moving right away. In fact, we're considering selling our modest investments and paying off our mortgage in case the banking system across the country tanks.

[Anonymous]

So glad we have held out to buy. Hoping to pick something up cheap cheap cheap by the end of the year. Silver lining will be if interest rates go down too!!

[Anonymous]

Well Trump praised the beautiful DC buildings so methinks he is here for the long haul as are his minions. They will need homes and the people working for them will need condos/homes as well.

[Anonymous]

Anonymous wrote:Well Trump praised the beautiful DC buildings so methinks he is here for the long haul as are his minions. They will need homes and the people working for them will need condos/homes as well.

Nah. The irony is that just as everyone is ordered to RTO they will all work remotely from Silicon Valley!