Does Political Change in DC Affect the Real Estate Market?
The mid-term elections occurred recently and there is “change in the air”. With a significant changing of the political guard, people ask me how it affects the real estate market. The short answer is that in general the affect is beneficial, but we have found it is typically not immediately felt in the market place. An election brings in not just the new politician, but also the support staff. Then we have the outgoing policymaker and their entourage. The net effect of all this “churning” of politicians over the years is positive population growth in the Washington, DC metro area. That means that less people leave then come in. My theory on these phenomena is that if you do public policy, and you do it well, you do it in the public policy Mecca of the world – Washington, DC. Why would you want to go back to your home state and practice state politics when you have played in the bigger sandbox of national and international politics? To support my theory, I will share four examples of po
