Can you post the entire thread?

I'd absolutely pick up a place around DC if I can.

We all know the Swamp will eventually refill.

What is the connection? People get laid off and they just pack and move out of DC?

These folks will all land on their feet…organized crime is always hiring.

G Martin 87 said:

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Need to see if searches for "on-site shredding service" have also picked up.

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For government employees, that would be...umm...problematical. Destruction of records can get a 20 year sentence.

infinity ag said:

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What is the connection? People get laid off and they just pack and move out of DC?

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Everything around DC is about working with the Government. This is DC. I haven't looked at Surrounding areas.

As someone who has lived around the DMV metro region off and on for nearly 30 years

this is mostly fake news.

there are literally SEVEN MILLION PEOPLE in the Metro area. that is likely not even including all the illegals

the fact that there are hundreds of homes up for sale is called yesterday, today and tomorrow.

when you see Virginia elect another Republican Governor and have a GOP majority in the State House in Richmond-

THEN you will know we got rid of the Deep State!

I live in the DC area and have a close friend who is a realtor. A few things IMO based in what I'm hearing.

1. Impact of layoffs are likely to be somewhat negated by the return to office. A lot of positions in DC offices had people working remote all over the country.
2. Investors sitting on cash have been buying properties in DC for years often outbidding residents. They are likely to swoop in and keep proces from dropping too much.
3. Commutes are already getting worse with RTO and people living in DC suburbs will likely try to buy in the city.
4. Expect the suburban housing prices to drop more than in the city.

aggiehawg said:

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G Martin 87 said:

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Need to see if searches for "on-site shredding service" have also picked up.

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For government employees, that would be...umm...problematical. Destruction of records can get a 20 year sentence.

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True, but what they are shredding might get them 40 years!

LMCane said:

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As someone who has lived around the DMV metro region off and on for nearly 30 years

this is mostly fake news.

there are literally SEVEN MILLION PEOPLE in the Metro area. that is likely not even including all the illegals

the fact that there are hundreds of homes up for sale is called yesterday, today and tomorrow.

when you see Virginia elect another Republican Governor and have a GOP majority in the State House in Richmond-

THEN you will know we got rid of the Deep State!

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Agree. Housing market has been ridiculously tight in this area for decades. Every house we tried to buy would have multiple bids. And inventory has been extremely low since interest rates were raised recently. I've never seen it this low in the 16 years I've lived here.

This will be great for all the Trump folks moving in. Real Estate prices around DC were just stupidly high.

Conspiracy theory: these sales are money laundering fronts. The grifters are just trying to put another layer between their fake gay frog musical funding from USAID and their lavish lifestyles.

Trump lowers housing prices (around DC)! Another promise kept!

Farmer_J said:

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Gee I wonder why?

I pulled up Zillow last night and looked at a random area in DC - majority of the homes for sale were less than 3 days on the market.

This is absolutely insane:

Since DOGE began discussing mass layoffs, the median home price in Washington DC has FALLEN by -$139,000.

In 30 days, nearly 4,000 homes have been listed for sale in and around Washington DC.

What is happening? Let us explain.

(a thread) pic.twitter.com/rPyp4fFvzN

— The Kobeissi Letter (@KobeissiLetter) February 15, 2025

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This is NOT news. The busiest buying/selling time for homes is March - July every year. Chunks of homes going on the market in Feb is not unusual. There will be more in March/April. Everywhere.

As much as i would love to delight in this, I'd like to see it compared to any like time frame when the WH changes parties.

Houston Lee said:

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Farmer_J said:

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Gee I wonder why?

I pulled up Zillow last night and looked at a random area in DC - majority of the homes for sale were less than 3 days on the market.

This is absolutely insane:

Since DOGE began discussing mass layoffs, the median home price in Washington DC has FALLEN by -$139,000.

In 30 days, nearly 4,000 homes have been listed for sale in and around Washington DC.

What is happening? Let us explain.

(a thread) pic.twitter.com/rPyp4fFvzN

— The Kobeissi Letter (@KobeissiLetter) February 15, 2025

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This is NOT news. The busiest buying/selling time for homes is March - July every year. Chunks of homes going on the market in Feb is not unusual. There will be more in March/April. Everywhere.

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What's the comparison median decrease and increase in homes for sale in previous years?

560k average home price is misleading if you are thinking of a typical Texas market with stand alone homes on a lot.

DC housing is loaded with condo/apartments and even after you buy a one bedroom for 400k, you have $2,000 monthly homeowner fees.

Billions of $'s to DC NGO's are being cut off, it's common knowledge that most people in the government have a spouse/relative working at one of these pulling in $300,000 to $500,000 per year.

Undoubtedly, it's going to take a toll on the market.

Active listings in Austin area are up 16% YOY and median sales price is down 4%

Don't know if DOGE related

In Dallas County active listings are up 46% and median sales price is down 1% YOY

Time to buy!!

At the rate our debt is rising ($37T or so), I am sure in some time the White House will show up in Zillow or AirBnB so that rich sheikhs can sleep in there for big bucks.

Related?

BREAKING: Unemployment filings in Washington, D.C., are skyrocketing right now. Filings have increased by 36% compared to two weeks ago.

The D.C. real estate market is also in shock, with many homes going up for sale at lower prices.

FIRE THEM ALL, Mr. President. pic.twitter.com/P1cMrS4zqt

— George (@BehizyTweets) February 16, 2025

You're just not right though, about this being a normal cycle there in mid February. See the thread.

Here's a chart showing median home price in the Washington, DC area.

In November 2024, the median home in Washington, DC was worth ~$699,000, according to Redfin.

Today, the median home is worth $560,000, marking a -20% drop in ~3 months.

Mass selling is an understatement. pic.twitter.com/g7qJDfZB5D

— The Kobeissi Letter (@KobeissiLetter) February 15, 2025

Just wait until we see the effects on commercial real estate in Washington, DC.

DOGE announced plans to eliminate up to TWO-THIRDS of US government office buildings, per WSJ.

Not a single major US government agency is currently occupying even 50% of their office space. pic.twitter.com/8Q6JDF1r5O

— The Kobeissi Letter (@KobeissiLetter) February 15, 2025

More at the thread. The impact on DC area housing is real and it will be real if federal office space can be dumped into the commercial market as well (I think this will take a year or so). The median home price in D.C. has dropped by $139,000 in just 30 days, with nearly 4,000 new listings hitting the market. This follows DOGE's push for mass layoffs across bloated federal agencies. These things are connected.

And it's not really the DOGE firings, but the impact on the 'contractor' community around/about DC. I am not saddened by it.

[Do not clutter the thread with multiple X links. One or two are fine to make your point -- Staff]

[Do not repeat quotes of multiple X links. It clutters the thread unnecessarily -- Staff]

Oh. And I also forgot to mention, we have had a total regime change from Biden to Trump. Team Biden folks are also moving.