Reply to Is there going to be panic selling?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Some of my friends think there will be mass selling off homes in DC metro with huge percent of population becoming unemployed and not enough private industry jobs.  For now I see homes still being built, not skipping the beat and there are no bargains, but I am worried about the future of this area despite being in private industry.

We are kind of trapped staying here and cannot sell.  Family reasons and also having a cheap rate (like many others) and mortgage we can afford.  Moreover, if selling off does happen where would you go? It's expensive everywhere, I can't find anything cheaper that's not a shi*hole.   And if prices do tank a lot then this will become a low COL area and you can no longer cash out enough to buy anything in another metro area with a decent job market.  I wonder how many people are going to be trapped in the same situation afraid to move for a sticker shock [/quote]

Opposite. Too much hysteria assuming huge unemployment. If anything, there would be more demand as offices fill more will want to live closer in.[/quote]

I wish I had access tho whatever it is you’re smoking. [/quote]

Same! 😆[/quote]

+1. I assume contributions like the one above are due to someone either not reading the news or refusing to engage with reality, kind of like when Trump was reelected and people didn’t think there would be discernible reverberations in the government.

GSA is terminating leases left and right. I assume commercial RE is at a standstill. Residential is a different market, but it’s going to be impacted. Arlington, Alexandria, Bethesda, Silver Spring, etc. [/quote]

I am wondering what will happen to all these commercial buildings.. I think this may determine the future economy of DC (at least the city proper) and its RE market.  I seriously doubt that they will just sit empty forever and fall into ruin.  [/quote]

They will knock them down and build data centers.[/quote]

It's not very efficient use of that space, would be a big fail for he "efficiency" department  :lol:  Data centers usually go into rural areas and not into an expensive urban grid. Plus they are incredibly ugly and MAGA won't like the optics of the entire blocks of their capital so close to the WH and National Mall to look like a dystopian warehousing depot.  They'd at least try to keep up appearances, and there are indications that they care[/quote]

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