I am stuck here. I have a property I’ve had for a number of years. I rent it for good cash flow, have around 200k in equity, and a 2.75% mortgage rate. Don’t live in the state anymore, and I always thought I’d keep this for 40+ years… but now I don’t know if they cut the gov like they’re saying.
What say you?
I'm not a real estate expert by any means but we already know, and Trump has been talking about, breaking up the parts of the federal government we're keeping and moving them to different parts of the country where they belong.
I highly doubt real estate in DC will weather this storm. Same with places like Los Angeles, there is going to be so much empty real estate that values are going to shit when the illegals leave and they won't be coming back up to where they are now.
Think about if like this, is there any course of probable action that could lead to your property increasing in value? If not, then the question is how much will it decrease. If Trump V2 cuts even 60% of the federal work force, what's happens? If they follow through with piecing DC out and spreading it across the country, how much of a decrease then? Lastly, what alternative option does DC have for jobs besides the federal government?
I just don't see any of this going well for real estate in blue urban areas, let alone a place like DC.
Disclaimer: my 2 cents, not "official" advice.