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"Trump Allies and Tech Titans Spend Millions on Luxury Homes in Washington, DC, Boosting Housing Market"

Trump supporters and allies have been purchasing luxury homes in Washington, D.C., indicating a power shift towards the area. Since Trump returned to Washington in January 2025, several key figures and high-ranking officials have bought multi-million-dollar properties in the district, further fueling the local high-end housing market—a trend known as the "Trump Effect." Among them, Meta CEO Mark Zuckerberg purchased a 1.08-acre mansion in the Woodland Normanstone neighborhood for $23 million in March. Built in 2017, the house was acquired by Zuckerberg and his wife Priscilla Chan to facilitate his involvement in policy issues related to U.S. tech leadership. Zuckerberg has visited Mar-a-Lago multiple times since Trump's election and attended Trump's inauguration. He has also made three visits to the White House, partially to lobby against antitrust lawsuits. Treasury Secretary Scott Bessent bought a luxurious 1941-built home in Georgetown for $12.5 million on January 30, just three days after his confirmation. Spanning 8,048 square feet, the property includes five bedrooms and a saltwater pool. Bessent previously served as the CEO and Chief Investment Officer of the hedge fund Key Square Capital Management. Health and Human Services Secretary Robert F. Kennedy Jr. acquired a four-bedroom house in Georgetown for $4.43 million in early April. The 4,876-square-foot residence was previously sold for $2.675 million in 2013 and is located about half a mile from the home where John F. Kennedy and Jackie lived in 1953. Commerce Secretary Howard Lutnick made a record-breaking all-cash transaction of $25 million in December 2024 for Fox News anchor Brett Baer's property, setting a new high for real estate sales in the district. The 16,250-square-foot mansion in the Foxhall community is elegantly furnished and features a 56-foot heated swimming pool, an indoor gym, and a golf simulator. Lutnick was formerly the CEO of financial services company Cantor Fitzgerald. David Sacks, appointed as the "Special Envoy for Cryptocurrency and AI" in the Trump administration, bought a 6,400-square-foot penthouse in Georgetown for $10.25 million in December 2024. This top-floor apartment, with four bedrooms and six bathrooms, showcases Sacks' significant role in the tech industry and his commitment to advancing and regulating the cryptocurrency and AI sectors. These purchases reflect the importance that high-ranking officials and Trump supporters place on the upcoming term and their intention to remain in Washington for the long haul. In February 2025, the Washington D.C. metropolitan area recorded 224 sales of homes priced at over $1.5 million, a 11.4% increase from the same period the previous year. According to Redfin, the median sales price for homes in Washington D.C. is $642,500, but in upscale neighborhoods like Georgetown, it can exceed $1.65 million, and in Kalorama Heights, it reaches $777,500. Industry experts note that these significant investments signal a political trend where Trump supporters and allies prefer to be near the center of power. This phenomenon is likely to continue influencing the real estate market in the district. Additionally, the backgrounds of companies like Meta and Cantor Fitzgerald highlight the economic strength of these individuals and their positive attitude towards the Trump administration.

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