Washington, DC and its suburbs' housing prices (one of the wealthiest regions in the country) have been hit hard since President Donald Trump was first elected, and has since fired 10,000 federal workers, nearly 70,000 I offered to buy someone.
About 5,000 homes have landed on the market since Election Day, according to Global Capital Market Watcher The Kobeissi Letter. Median home prices have taken away from around $700,000 to almost $150,000, they report, with nearly 10,000 homes currently on sale.
They further stated that Government Efficiency (DOGE) has discovered that less than 15% of the federal government's space space space is occupied.
Meanwhile, Doge chief Elon Musk reported that the Social Security Administration counts more than 20 million people living in over 100 years, with one individual almost 400 years old.
Housing price tank
Calling market dips and massive sale “inappropriate”, Kobesisi reported that the median home prices in Washington, DC “has been reduced by $139,000.”
“In 30 days, approximately 4,000 homes have been sold in and around Washington, DC,” the letter continued.
Using charts and graphs, the letter explained that the average home in the area is worth around $699,000 on election day. Now in just 90 days, the price has reached around $560,000, up to 20%.
“Large sales are an understatement,” Kobeissi reported.
Currently, around 8,000 homes are on sale in the Washington, DC Metro area.
Almost half of these homes have been listed for sale for the past 30 days.
Since November 2024, nearly 5,000 homes have been on sale, well above the average.
Layoff
The layoffs began until September with an offer to employees that “if they leave, 5% to 10% of employees are expected to agree.”
Citing the Wall Street Journal, the letter was accepted by 65,000 employees.
Meanwhile, Fox News reported that Doge Pink melted and washed away 3,600 probation workers from the Department of Health and Human Services.
“This is expected to save $600 million in taxpayer dollars a year,” the letter reported, with 65,000 purchases saving $38 billion.
On January 28, just eight days after Trump took office, Doge reported that it had saved taxpayers $1 billion a day and reached its $3 billion target.
“This means Doge can reduce US deficit spending by 20% in its first year,” Kobeissi reported, adding, “As workforce reduction is a major Doge goal, it has more. It means that the layoffs are coming.”
Commercial Real Estate
However, the thread also suggested it would shock the commercial real estate market.
“Please wait until we see an impact on commercial real estate in Washington, DC,” Kobeissi reported.
Doge has announced plans to eliminate up to two-thirds of US government office buildings per WSJ.
At present, not a single US government agency occupies 50% of its office space. …
Doge is particularly noteworthy about the vacant Washington, DC federal government buildings.
On average, they are occupied by just 12%.
The Ministry of Agriculture saw about 456 of its 7,400 employees using their offices.
The DC real estate market is just beginning.
The thread also reports that it looks more broadly at the housing market, indicating that 15,000 homes in the city are for sale. In fact, “There are so many homes for sale in the downtown area, so Zillow has grouped 280 homes,” Kobeissi reported.
Over 100 people collecting social security?
Meanwhile, Doge Musk continues to find waste, fraud and abuse. Just after midnight he posted a graphic showing the number of people over 100 whom the Social Security Agency said were alive.
“According to the Social Security Database, these are the number of people in buckets of each age, and the field of death is set to false!” he wrote. “Maybe Twilight is real and there are a lot of vampires gathering social security.”
Approximately 20 million people are alive and well. The chart shows that 3.63 million are between 110 and 119, while 3.8 million are between 120 and 129, almost 4 million are between 130 and 139, and about 3.5 million are between 140 and 149.
Additionally, 1.3 million years old are 150 to 159 years old, while 448 years old are over 190 years old.
Musk writes that one person listed as alive in the database is between 360 and 369 years old.
“Yes, there are far more “qualified” Social Security numbers than American citizens,” Musk continued. “This may be the biggest scam in history.”
The 2023 profile of Americans in 2023 reported that 88,988 people were over 100 years old in 2022. This means that the Social Security database is slightly inaccurate.
Musk also reported that 310 million Americans are eligible for Social Security. The US population is approximately 335 million.
Last year, Social Security employed around 60,000 people.
H/T: Daily Mail, Fox News
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