We Need to List The White House & All Federal Buildings as Short Sales
As we face sequestration, I can tell you that the folks in the suburbs of Washington, DC are paying close attention to what is happening. We are hearing tales of federal employees that are expecting twenty percent pay cuts if Congress can't get a budget together. While we are currently experiencing an abundance of buyers and very little homes to sell, that scale might tip the other way if those salary cuts hit. We'll definitely see it switch up if we see mass lay offs.
If Congress and the President were regular old U.S. Citizens and carried on spending the way they do, they would soon find themselves having to hire a Short Sale Agent like me to list their home. Why? You can't continue to spend more than you make. You either need to cut spending or make more money. And in our government's case, doing both is merely a start at solving the problem. It's like taking a crayon and making your first mark at coloring in a football field...or probably something larger....like the state of Texas.
I'm happy to list the Pentagon as a Short Sale since it's in Virginia. But who do you think would buy any of this stuff? China already owns the vast majority of our debt. Them buying the properties would be more like a Foreclosure. And what would the ads look like?
Oversized, functionally obsolete government building is a great investment opportunity. Damage from commercial jet strike repaired. Rezone as residential and make it assisted living for baby boomers. The government won't need it anymore. They can't afford to pay anyone to work in it.
I think living in the shadow of the Federal Government has made me a bit bitter and skeptical. They are great at talking, bad at everything else.
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