Posted on 05/08/2025 2:21:07 PM PDT by cotton1706
A Redfin analysis shows that the number of homes for sale in Washington, DC, rose at the fastest pace on record last month.
Sweeping layoffs of government workers spearheaded by DOGE boosted the figure.
DOGE slashed over 200,000 federal jobs in March alone, one analysis found.
Widespread layoffs of federal workers are rippling through the housing market of the nation's capital, with Washington, DC, in April seeing the biggest surge in the number of homes for sale ever recorded, data from Redfin shows.
Active listings of homes for sale in Washington, DC, soared 25.1% year-over-year in the four weeks leading up to April 27, the real estate listings site said on Wednesday.
The firm said it's the largest increase in active housing inventory in the area ever recorded, with its data stretching back to 2015. That's compared to a 14.1% increase in homes for sale nationwide, which Redfin said is the smallest increase since March of last year.
"Quite a few people in DC are selling their homes because they're losing their jobs," Mary Bazargan, a Redfin agent based in the region, said in a note. "Many of those people are planning to leave the area because the cost of living is high and they want a new job that allows them to work remotely and be closer to family."
The Department of Government Efficiency, which has sought to slash $2 trillion in government costs, has not released official figures on the number of federal workers it has cut.
(Excerpt) Read more at msn.com ...
They simply remove the graffiti, gum from the side walks, trash in the parks, poop...
I once saw human excrement (some bum took a crap on the sidewalk) at the entry of a nice hotel near the White House, no kidding.
Stand around the Hoover building and you can smell the pot. Ironic.
DC it a $hithole kept pretty, but you need to remember it’s still just a $hithole, and you have folks that will rob, stab, shoot, and (if female) rape you.
The ghetto people, and their ghetto mentality is alive there, it’s just kept pretty with lots of tax dollars from the rest of the country.
“So, are you telling me ... “
What I told you:
The bookkeeping liability is based on the loan value.
It is not an asset marked to market.
Buyer's market in the DC area.
Maybe the Republicans can snap them up at bargain prices and rent them out to the RATs.
“... adjust their book value when property values drop?”
The home values are not on their books.
This despite that "loan-to-value" is the first qualifying attribute?
“This despite that “loan-to-value” is the first qualifying attribute?”
Correct. The bookkeeping liability is based on the loan value.
The home value is not an asset marked to market.
The home value is not an asset marked to market.
In terms of banking stability of the largest asset class in the country, that's insane. No wonder 2008 went down the way it did.
Democrats force huge games with which the big players can cash in on artificial scarcity. Housing is no different than any other asset class, with environmental regulations as the chief lever in that game. To me, this deficiency in the banking system is incomprehensible.
“In terms of banking stability of the largest asset class in the country, that’s insane. No wonder 2008 went down the way it did.”
2008 is no more.
Banks do risk assessments on their portfolios. Also, the feds do “stress” tests on the banks to mitigate market risks.
Back in 2008 banks were “encouraged” to load up on “risky” loans.
California, the main culprit, was a special case.
It’s well known that air quality is low; that is, unless you like the odor of Marijuana!
That was going on in Southern California all through the late '90s. The Chandler family was cashing in on the "Inland Empire" in both San Bernardino and San Diego Counties. They're cooking up that game again as we speak. I just saw an example in a valley between Paso Robles and I-5 where they're building a four-lane interchange between freew
Spent the weekend in NYC, and the pot smell was EVERYWHERE. If you were going to walk on the sidewalk, you were going to smell it.
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