President Trump's federal workforce cuts have introduced significant uncertainty in Washington, D.C., affecting the local job market and housing dynamics. With mass layoffs across almost every federal department, many civil servants have voluntarily left their positions, impacting related private businesses. This uncertainty is also reflected in the housing market, with condominiums experiencing a 59.2% increase in inventory compared to last year. A recent poll suggests that 20% of D.C. residents are contemplating leaving the city, highlighting the socio-economic consequences of these cuts.
And it doesn't only impact civil servants as many private businesses in D.C. are tied to the federal government.
The condo market in D.C. is experiencing significant changes due to rising inventory and listings amid federal workforce cuts.
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