The housing market in Washington, D.C. has taken a hit as thousands of federal workers have lost their jobs, sparking a surge in home listings and plummeting prices. Since Donald Trump’s inauguration, Elon Musk’s Department of Government Efficiency (DOGE) has fired over 9,500 workers, including those handling federal lands, caring for military veterans, and managing national parks.
As a result, many former federal employees have put their homes on the market, causing the median home price to drop by 20% in February. The number of homes listed for sale in the area has increased significantly, with nearly 8,000 properties now available, almost half of which were added in the last 30 days.
The surge in listings is attributed to return-to-office mandates and uncertainty among federal workers, who are expected to have to commute more frequently due to the new policies. Some agents report that clients are selling their homes to be closer to public transportation or because they’re worried about losing their jobs.
The layoffs have also affected high-profile government jobs, with some workers facing buyouts or being forced out of their positions. The firings come as part of a broader effort by Trump and Musk to reduce spending and gut civil-service protections for career employees.
Source: https://www.dailymail.co.uk/news/article-14403091/doge-mass-layoffs-median-home-price-washington-dc.html