Part 3/8:
Particularly noteworthy is the impact of these layoffs on white-collar workers, many of whom are homebuyers in affluent neighborhoods. For example, areas like Brookhaven, a suburb of Atlanta with a median household income of $138,000, are home to professionals who have filled the housing market during the pandemic. However, these layoffs bring uncertainty, suggesting a potential decline in housing values as demand wanes. The situation in Washington, D.C., is striking as high unemployment application rates emerge, signaling job insecurity among many government workers.