The recent layoffs of over 24,000 federal workers under Elon Musk's Department of Government Efficiency have begun to affect the housing market in Washington, DC, which employs the highest percentage of federal workers. Realtor.com reports a significant increase in for-sale inventory in DC as the annual spring selling season approaches. This trend contrasts with stability in other U.S. cities with large federal employee populations, raising concerns about their real estate markets. Court rulings may provide potential relief for affected workers and their housing markets.
"While the other markets saw inventory trends remain relatively steady week over week, Washington, DC, saw a third straight week of accelerating inventory growth compared to last year."
"It is a sad day when our government would fire some good employee and say it was based on performance when they know good and well that's a lie."
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