DC Property Prices
November 9, 2016 12:26 PM   Subscribe

What's Up (or Down) with Election Results

So I was under the impression that with any republican presidency, DC property prices would go down, at least in the short term. A lot of people would be moving out since their democratic party based job would no longer exist, and a lot of republicans moving in would prefer to live in Virginia.

Do you have any indications to consider about how true this is? Any details to add to or take away from this understanding? I am specifically asking about DC itself (not VA or MD), and asking because previously, I had been making house offers in NW DC. If prices will go down over the next few months with a significant increase in inventory, I'd like to wait for an appropriate period of time before making a purchase.

If things continue to go the way they have in the past few months- increasing prices and extremely limited inventory- I'd rather buy sooner. Thanks for any insights!

Also, my condolences to anyone in mourning after last night. Hugs...
posted by cacao to Home & Garden (2 answers total) 3 users marked this as a favorite
This issue gets a lot of attention every election cycle, but the reality is that the number of political jobs is small compared to the size of the relevant housing market.

A broader issue is whether there will be a change in government structure or funding that would affect the regional economy, but that's likely to affect the metro area as a whole and occur over a longer time horizon. The general uncertainty might affect prices, but I can't see why that would be much different in a few months from now than it would be today.

That said, it's become quite clear over the past 24 hours that it's tough to make predictions, especially about the future.
posted by Mr.Know-it-some at 12:52 PM on November 9, 2016 [1 favorite]

There will probably be roughly as many Republicans moving in as Democrats moving out.
posted by kat518 at 8:13 PM on November 9, 2016

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