Will real estate activity pick up significantly with the new Trump administration? Seems I can’t make it through a holiday party, dog walk, or even a trip to Safeway without being asked. The answer? Not so much. Truth be told, a lot of the folks that will join the new administration are already here. Most others who come will rent. A few will buy. But that’s only a few (someone took a count during the new Obama administration back in 2008, and those that bought numbered around 50). And, let’s face it – the close in DC market is expensive. Unless one is coming from the pricier edges of the country (LA, Boston, New York), Bethesda/Chevy Chase might not be in the budget. And in spite of the fact that Mike Pence recently rented a home in Chevy Chase, before moving into the big house on Observatory Circle, a lot of Republicans feel more at home in Virginia. Furthermore, not everyone who will serve in the new White House will arrive in late January. It’ll take a couple of years for the administration to fill out.
Another local rumor dashed. Alas, there will be no Trump bump. Perhaps a blip?