Reply to DC had largest percentage drop in population in nation

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Lol oh look a 3% decline during a pandemic and administration change. Anyone making any kind of sweeping conclusion from this is an idiot.[/quote]

ANY amount of population drop is bad news for anyone who bought overpriced property in DC the last decade or so. Because they will not see the kind of return on investment they were expecting. [/quote]
Everything is not about real estate prices. Even if those 20k who left were renters, that’s a huge loss of tax revenue that the city was not expecting nor had planned for. This is on top of the city blowing their federal Covid relief and rainy day funds on “historic” investments in public welfare. Whether those investments are good or bad, I’m not here to say. But what I can say is that if you empty your piggy bank it is probably not good if you also suffer a pay cut at work at the same time. Otherwise, what the city will be confronted in the coming 6 months with a big choice, cut services, raise taxes or even both. This is where the potential for negative feedback loops start. 
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