Your handle says you're in DC. If that is correct, you probably know your area better than most of us here. For instance, do most workers in DC live in DC or do they commute from wherever? For those that do live in DC, do most of them purchase or rent their home? Are most DC inhabitants federal government workers?
Having said that ... it's my humble opinion, that unless those terminated DC employees find other immediate employment, there will be many more foreclosures than previously expected. No job = no eligibility to purchase or refinance. That area may be seeing more home sales from those displaced workers (if you can find qualified buyers in the private sector).
Further, those same terminations may have outlying repercussions. There are many companies all over the country that have (had) contracts with the federal goverment for services/supplies/equipment/etc. Sadly, there will be far-reaching impacts.
I believe it takes more than 6 months for a foreclosure to take effect. We should be realizing the full effect just in time for the end-of-the-year holidays -- just in time for Thanksgiving.
Again, jmho.
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