Anonymous
Post 02/10/2025 18:48     Subject: Is there going to be panic selling?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:There will be many more contractors to fill the same roles. I am not worried.

Contractors are also being let go.


Yeah, article just out about Elon training AI to do most of government work. It’s crazy and he’s awful.



Let’s face it, it’s not just going to be federal workers and the DMV out on their buts. AI will affect the job market throughout so no one’s job is safe and secure. It seems to me the federal government is getting privatized so the money saved by getting rid of fed agencies and people will not go towards programs for tax payers, it will be restructured towards whatever the power that be decides. With that, I am not planning on selling my home and move. I’m going to stay right here and watch all the shenanigans up close.
Anonymous
Post 02/10/2025 18:30     Subject: Is there going to be panic selling?
Anonymous wrote:
Anonymous wrote:There will be many more contractors to fill the same roles. I am not worried.

Contractors are also being let go.


Yeah, article just out about Elon training AI to do most of government work. It’s crazy and he’s awful.
Anonymous
Post 02/10/2025 17:21     Subject: Is there going to be panic selling?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:It's not nearly as expensive everywhere else. Lots of mid-sized cities that are way more affordable, especially in places that people on this board would call flyover country. Those places are safe, have good schools, and don't have nightmare commutes if you have to live far from your job. Broaden your horizons -- there's more to the world than the DMV.


Nice try but most of us are from.those places and we know why we left.


How long ago did you leave? My DC grew up in the DMV and is now in college in a city in "flyover country." He spent last summer back living in Capitol Hill and came away deeply unimpressed with the city. The city he is in is booming and a much better place to be young. DC was drab and boring in comparison. Maybe RTO to office will help, but DC is still not the same place it was before COVID.


Not surprised. This happened in most downtowns.


RTO is supposed to take care of it. DC streets are deserted right now outside of a few neighborhoods near colleges, shopping/dining and tourism. But it was also designed with vast swaths of streets with commercial buildings and low rise residential. A flyover city with a central area with highrises young people can afford to live in and a blob of dining/entertainment not catering only to deep wallets older people (cheap eateries and bars, clubs, etc) will certainly feel more vibrant and easier for the youth. DC used to be this.. at least how I remember it in early 2000s, it was vibrant and full of young people, we had fun going to clubs, bars, eating without dropping a price equivalent to a price of a small apartment monthly electric or heating bill on one dinner for 2.


When is the last time you actually were in DC? Does Union Market or Capitol Hill or Navy Yard or The Wharf or downtown near Jaleo…I could go on.

Those places are all fairly crowded in addition to Georgetown and Adams Morgan et al which fits your definition above.


+1
This was the second weekend in a row that I struggled to get dinner reservations anywhere in dc for 4 people. We tried a few places as walk ins and everything was full, despite the miserable weather. It doesn’t seem as if you actually go out in dc?
Anonymous
Post 02/10/2025 17:15     Subject: Is there going to be panic selling?
Anonymous wrote:There will be many more contractors to fill the same roles. I am not worried.


I don’t think they want to hire back many of the jobs they are seeking to cut. They want to permanently reduce the size of the government by closing and consolidating agencies. If they do that these jobs will not come back for at least four years and the DMV economy and housing market will experience unprecedented shocks.
Anonymous
Post 02/10/2025 15:51     Subject: Is there going to be panic selling?
I am worried but not panicking and not selling.

I also recognize I’m in a better place than most. We bought pre-COVID (so have a good bit of home equity) and a < 3% mortgage. House is now worth $1.3 with about $550k left and we can afford it for a while on 1 salary, esp if we stopped paying for childcare with 1 parent at home. We also have some family in the area.

So basically we have nowhere to go that would make sense and are in this for the longer haul. It would hurt us on paper, but I’m more worried about the people whose housing stability will be at risk.

Now if DH and I both lose our jobs and cannot find employment, well then I guess we’d have to move wherever we can find work.
Anonymous
Post 02/10/2025 15:43     Subject: Is there going to be panic selling?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:It's not nearly as expensive everywhere else. Lots of mid-sized cities that are way more affordable, especially in places that people on this board would call flyover country. Those places are safe, have good schools, and don't have nightmare commutes if you have to live far from your job. Broaden your horizons -- there's more to the world than the DMV.


Nice try but most of us are from.those places and we know why we left.


OK. The ivy league colleges are filled with kids from those places. And people there in blue collar jobs can afford houses that don't have nightmare commutes. They can even run their errands without running into long lines, lack of parking, and gridlock everywhere. I like this area too, but I am always surprised when people are too closed-minded to explore alternatives.


Interesting that you don't mention taxes and good public schools. Those are two of the best reasons why to stay here.


They also don't mention that a lot of us are locked at low interest rates and it would cost us more to buy a house in a "cheaper" area than it would for us to just hunker down and stay here.


According to the linked OPM report, there are 449,503 federal civilian employees between Maryland, Washington DC, and Virginia. This figure does not include federal contractors. 40% of the economy is also based in some way on the federal government. People will hunker down for as long as they can, but most people can't hunker down indefinitely.

https://crsreports.congress.gov/product/pdf/R/R47716
https://www.washingtonian.com/2025/01/29/trumps-attempts-to-shrink-the-federal-workforce-could-hit-the-dc-areas-economy-hard/
Anonymous
Post 02/10/2025 14:57     Subject: Is there going to be panic selling?
Anonymous wrote:There will be many more contractors to fill the same roles. I am not worried.

Contractors are also being let go.
Anonymous
Post 02/10/2025 14:33     Subject: Is there going to be panic selling?
There will be many more contractors to fill the same roles. I am not worried.
Anonymous
Post 02/10/2025 14:32     Subject: Re:Is there going to be panic selling?
Most people don't work for the feds, so there may not be as much panic as you want there to be to get a lower cost house.


But federal jobs support other jobs here. Why do you think there is an effort to RTO?
Anonymous
Post 02/10/2025 11:56     Subject: Is there going to be panic selling?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:It's not nearly as expensive everywhere else. Lots of mid-sized cities that are way more affordable, especially in places that people on this board would call flyover country. Those places are safe, have good schools, and don't have nightmare commutes if you have to live far from your job. Broaden your horizons -- there's more to the world than the DMV.


Nice try but most of us are from.those places and we know why we left.


OK. The ivy league colleges are filled with kids from those places. And people there in blue collar jobs can afford houses that don't have nightmare commutes. They can even run their errands without running into long lines, lack of parking, and gridlock everywhere. I like this area too, but I am always surprised when people are too closed-minded to explore alternatives.


Interesting that you don't mention taxes and good public schools. Those are two of the best reasons why to stay here.


They also don't mention that a lot of us are locked at low interest rates and it would cost us more to buy a house in a "cheaper" area than it would for us to just hunker down and stay here.
Anonymous
Post 02/10/2025 11:53     Subject: Is there going to be panic selling?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:It's not nearly as expensive everywhere else. Lots of mid-sized cities that are way more affordable, especially in places that people on this board would call flyover country. Those places are safe, have good schools, and don't have nightmare commutes if you have to live far from your job. Broaden your horizons -- there's more to the world than the DMV.


Nice try but most of us are from.those places and we know why we left.


OK. The ivy league colleges are filled with kids from those places. And people there in blue collar jobs can afford houses that don't have nightmare commutes. They can even run their errands without running into long lines, lack of parking, and gridlock everywhere. I like this area too, but I am always surprised when people are too closed-minded to explore alternatives.


Interesting that you don't mention taxes and good public schools. Those are two of the best reasons why to stay here.
Anonymous
Post 02/10/2025 11:53     Subject: Is there going to be panic selling?
Most people don't work for the feds, so there may not be as much panic as you want there to be to get a lower cost house.
Anonymous
Post 02/10/2025 11:49     Subject: Re:Is there going to be panic selling?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:What does this have to do with real estate? Move to political forum.


Yep. This thread is going to end up locked like the other one at this rate.


The real estate cheerleaders love to try to suppress any discussion that would cast doubt on their slogan that real estate prices always go up in the DMV.

DP. But wasn’t the original topic if people were going to “panic sell?” Selling your home because you lose your job is not panic selling.
Anonymous
Post 02/10/2025 11:41     Subject: Is there going to be panic selling?
I am the PP who mentioned delusional thinking. My comment relates directly to the real estate market. If the jobs go, both govt and private sector in support of govt, what do you think happens to the price of homes and the vitality of the DMV? Have you read Project 2025? Have you listened to Musk and followed what he is doing? Not political. It is reality and intentional.

The metro area needs new industries with zero government ties.
Anonymous
Post 02/10/2025 11:19     Subject: Re:Is there going to be panic selling?
Anonymous wrote:
Anonymous wrote:What does this have to do with real estate? Move to political forum.


Yep. This thread is going to end up locked like the other one at this rate.


The real estate cheerleaders love to try to suppress any discussion that would cast doubt on their slogan that real estate prices always go up in the DMV.