Washington, D.C.’s home prices have dropped 6.1% in the last 30 days, raising concerns about potential causes.
A major factor could be the Department of Government Expenditure (DOGE), which is now being led by Elon Musk.
Musk’s cost-cutting measures and policy shifts in government spending may be influencing the local economy, affecting buyer confidence and investment in real estate.
If federal budget allocations and expenditures are being reduced under his leadership, it could slow down government-related employment growth, impacting housing demand in the area.
Additionally, rising interest rates, inflation, and broader economic uncertainties are also contributing to the downturn.
Whether DOGE’s policies will have a lasting effect on home prices remains to be seen, but for now, the real estate market in D.C. is feeling the pressure.
Homeowners and investors will be closely monitoring these trends in the coming months.
