Anonymous wrote:I love how pp’s are just ignoring fundamental changes in population and the workforce during the last two years.

As far as the “bullet proof” DC economy, DC had the second biggest drop in new job openings in the country (-36%). Delaware was #1 with (-40%). Va was only down 13%. The national average was 17%.

https://blog.linkup.com/data-seekers/2022/07/07/job-openings-dropped-3-in-june-linkup-forecasting-net-gain-of-just-265000-jobs/

Those numbers are for 2nd Quarter 2022.

I love how pp’s are just ignoring fundamental changes in population and the workforce during the last two years.

As far as the “bullet proof” DC economy, DC had the second biggest drop in new job openings in the country (-36%). Delaware was #1 with (-40%). Va was only down 13%. The national average was 17%.

https://blog.linkup.com/data-seekers/2022/07/07/job-openings-dropped-3-in-june-linkup-forecasting-net-gain-of-just-265000-jobs/

PG and PWC crashed the last go around parts of silver spring. Condos and vacation rentals crashed. I expect we will see similar patterns as we always have. How many covidaires bought 80k cars and vacation homes that won’t stand the test of time when the east money dries up and the work anywhere myth dries up? The car market is already in trouble with repossession shooting up. Ocean city is next when rentals slow

There are places in DE and NC that went up 50-100% in 2 years. I doubt our NOVA place went up 20%, in a sought after school district. Prices won't fall much here compared to remote ex-burbs and other states. Won't be another 2008 or 2009. Plus we have no inventory, and no sub prime mortgages going belly up for investors to scoop up and flip.

Aside from the expensive/safe areas like Woodley Park, AU Park, etc., which neighborhoods in DC are expected to feel the hit with ppl leaving and mortgage rates rising?

Washington DC is a world capital. The value of your home will remain secure in the city. My neighborhood (Woodley Park) continues to see steady price increases, despite rising interest rates and the “economic downturn.” Houses in my neighborhood still usually spend no more than 7-10 DOM.

During Covid, the District of Columbia lost population. Many moved even further away, but there was some shift to the outer suburbs. If WFH continues as an option, there is no reason to believe that will reverse. Rising crime in the city doesn’t help, either. There is an argument to be made that the fundamentals in the outer ‘burbs are better than DC.

During the last crash it was the predictable areas that were hardest hit; outlying rings, lower income concentrated minority areas, newly pricey zones that concentrated speculators. Is there any reason to believe that those very same areas aren’t going to be the ones hammered again?