Texas Republican Senator Tex Cruz shared a post on X that really shows how DOGE is working after it appears the to show evidence of the rats abandoning the ship.
Cruz jumped to his X account to note that the real estate market is collapsing in Washington D.C. because so many Democrat thieves are fleeing the Capital.
wow. wow. wow. https://t.co/lGFibxRu4B
— Ted Cruz (@tedcruz) February 15, 2025
Home prices are falling in D.C. as so many homes have suddenly gone on the market… as many as 4,000 of them!
Let’s follow the Kobeissi Letter’s X post looking at the data:
Here's a chart showing median home price in the Washington, DC area.
In November 2024, the median home in Washington, DC was worth ~$699,000, according to Redfin.
Today, the median home is worth $560,000, marking a -20% drop in ~3 months.
Mass selling is an understatement. pic.twitter.com/g7qJDfZB5D
— The Kobeissi Letter (@KobeissiLetter) February 15, 2025
Year-over-year, home listings in the Washington DC metro area are up ~23%.
Parts of Virginia are seeing 60%-70%+ jumps in year-over-year listings.
Keep in mind, this is during the winter months in a housing market that has been historically LOW on supply.
Truly insane. pic.twitter.com/mgbeUCeCLG
— The Kobeissi Letter (@KobeissiLetter) February 15, 2025
Today, Fox News reported that 3,600 probationary Health and Human Services employees were laid off by DOGE.
This is expected to save $600 MILLION in taxpayer dollars annually.
The 65,000 DOGE cuts so far are now saving an estimated ~$38 billion in annual taxpayer dollars. pic.twitter.com/SV3fOprrtN
— The Kobeissi Letter (@KobeissiLetter) February 15, 2025
Here's where it gets even more interesting:
There has been a SURGE in new listings in Washington, DC with a listing price of $1,000,000+.
There are now 525 listings of $1+ million and 44 listings worth $5+ million.
This suggests high-profile job exits are rising. pic.twitter.com/WR2bDApWt0
— The Kobeissi Letter (@KobeissiLetter) February 15, 2025
DOGE has specifically noted that Washington, DC federal government buildings are particularly empty.
On average, they are just 12% occupied.
The Department of Agriculture saw just ~456 of 7,400 employees use their office.
The DC real estate market is just getting started. pic.twitter.com/CzcqUXZHvQ
— The Kobeissi Letter (@KobeissiLetter) February 15, 2025
If you zoom out further, there are ~15 THOUSAND homes for sale around Washington, DC.
In fact, there are so many homes for sale in the downtown area that Zillow is grouping 280 homes together.
This is an unprecedented level of selling in a generally "strong" housing market. pic.twitter.com/X3JZkqr0zo
— The Kobeissi Letter (@KobeissiLetter) February 15, 2025
DOGE's goal of rapidly reducing the $1.8 trillion US deficit will impact MULTIPLE markets.
The 10-year note yield has fallen ~40 bps from its high and gold is nearing $3000, even as inflation rebounded.
Subscribe below to see how we are trading it:https://t.co/SJRZ4FrfLE pic.twitter.com/hnZzHRfmV8
— The Kobeissi Letter (@KobeissiLetter) February 15, 2025
With mortgage demand at 30-year lows, stocks at all time highs, and DOGE disrupting government spending, tons of change is coming.
As investors, we must evolve with this change.
Be sure to turn on @Kobeissiletter post notifications to receive our real-time analysis.
— The Kobeissi Letter (@KobeissiLetter) February 15, 2025
Oh, snap, is that sweet. Let’s hope each and every one of these crooks end up in bankruptcy and ruin.
Follow Warner Todd Huston on Facebook at: facebook.com/Warner.Todd.Huston, or Truth Social @WarnerToddHuston
