Reply to Is there going to be panic selling?

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[quote=Anonymous][quote=Anonymous]There is a huge shortage of housing. People in DC often live in the in huge houses in the surburbs with room for tenants. So why sell.

My basement is sitting empty. It is 2,000 square feet with two bedrooms and a bathroom. No kitchen.

If broke I could put a cheap fridge in, microwave/convection oven combo and two burner electic stove top. Find some govt workers who live even further out and rent it for like $2,600 a month. Maybe 4 guys or ladies who are hybrid can rent it out if each only needs it three nights a week. I am right by NIH in Bethesda.

I would go down to one car. Even though I own my cars. I have to insure and maintain them all.

Cancel every subscription.

if necessary I move in to a tiny basement place and rent out my whole house.

[/quote]

Rent out to who?  If people are fleeing the area en masse due to complete lack of jobs nobody is going to be renting from you and you will be competing with professional rental units that will be dropping their prices.  Unless you have artificial rental market like being located next to the private company office that still has full staff and isn't experiencing layoffs (maybe Amazon or Capital One) or a major university you are competing with everyone else doing the same thing, not to mention people renting out their entire homes. [/quote]

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