Posted by: Timothy Ellis (The Tim)

Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market.

5 responses to “"Seattle…likely not facing a housing bubble."”

  1. marin_explorer

    I read the report, and found it to be a conservative assesment. What’s hidden in the report is that distinct locations have most likely appreciated much higher. The same goes for housing segments with more investor activity. While I don’t live in Seattle any more, I visited it recently, and it seems that certain areas are definitely affected. This “there is no bubble” nonsense is a common theme in areas that consider themselves “unique” to the market. Just take a look at how a Santa Barbara realtor sees her town, which incidentally is the named the most overvalued in that report:

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  2. Marinite

    On the other hand, just to play Devil’s advocate for a moment, Microsoft is hiring like mad recently. That should bolster demand, at least for a while

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  3. Anonymous

    It would appear from all indications that we are close to the edge. The question is what deflates the bubble in this region and how fast.

    Will it be when California deflates and does damage to the US economy? The result of oil prices that keep rising? Slowdown in international shipping through the Puget Sound due to the rising Yuan? How about a sudden exogenous event– AQ suicide bombers in shopping malls, a large earthquake, Mt. Rainier popping its cork.

    When everything is going up, it’s hard to remember that trees don’t grow to the sky–even in paradise.

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  4. marin_explorer

    Will it be when California deflates and does damage to the US economy?

    Say, let’s not hang this problem on California. I know it’s easy to do, but it’s happening everywhere in the US–and CA investors are not only to blame. The causes are global, but we’ll all feel it locally.

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  5. Anonymous

    Well it is certainly true that California is just another “victim” of Greenspan’s easy money. I was using it due to the size of its economy, proximity and ties with Washington and yes, its role as a trend setter.

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