Seattle Bubble

Here’s the latest installment of “Government Revenue Bubble,” courtesy of the Tacoma News-Tribune:
Washington’s hot economy, still surging with a mighty assist from construction and real estate sales, will boost state income by more than $300 million, forecasters said Thursday.
But in the same breath, economists warned of a slowdown, and Gov. Christine Gregoire and key legislators [...]

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No, seriously. That’s right, a “national housing expert” is predicting that Seattle will see a slowdown in the housing market in the next few years. He saw it on his crystal ball, it seems.
The housing market in the greater Seattle area “will be heading downward” in the next two years, a national housing [...]

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Realtors are gearing up for a fight in Washington State over a proposed change to real estate excise tax law:
The Washington Association of Realtors has launched a $1 million advertising campaign to warn home sellers of a proposed tax increase on the proceeds from their home sales.
A buyer of a new home could find the [...]

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Considering how much gasoline has surged in price in the last few years, it’s no surprise that so many people are talking about it. But will rising gas costs really have an effect on where people choose to live? Are the outlying suburbs of the Seattle area—currently experiencing record growth—in for falling prices [...]

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Though I don’t agree with the argument that the Seattle area is special and immune to future housing pain, I’m not the type to ignore evidence that supports such claims. Case in point, Snohomish County’s hot and growing job market:
Snohomish County is on fire - at least in terms of job growth.
The county produced [...]

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Parts two and three of King 5’s housing report focus on creative ways of making your money stretch that don’t include option-ARMs or other “creative” financing options. However, the reports aren’t directed at people buying a house to live in, but rather they’re written as how-to guides for real estate investing.
If you’re handy with [...]

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