Seattle Bubble

Data has been posted online regarding the condo that sold last month. It seems that they got just what they were asking, a cool three hundred thousand, which you will recall is $19,000 more than the unit next door sold for just two months earlier. Dang.
I’ll keep my eyes open as new properties [...]

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Housing in the Northwest has continued to experience a climb in prices this year as other parts of the nation have stalled, but some are starting to see some cracks in the foundation, and predict that next year the housing market will “cool, but not collapse.”
Nationally and locally, the sizzling housing market has been one [...]

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Okay so that headline was a bit of hyperbole, but I’m allowed to have a little fun now and then. I just couldn’t help it after reading about the “Horizons Economic Forecast breakfast” in Pierce County:
With two weeks remaining, 2005 looks to have been a year of healthy, strong and fruitful economic results. Next [...]

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NO DICE
Here’s another update on the properties I’ve been following in my neighborhood. The house I was watching never did sell, it would seem. After stagnating on the market for over three months and lowering the asking price by 8.5%, there still were no takers for the “cozy” house. I would guess [...]

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With unemployment holding steady last month at 5.6%, the Seattle Times brings us the details of the employment numbers’ relation to housing:
For the past year, the construction industry has been the main driver of economic growth in the state, accounting for a whopping 19.4 percent of all new jobs. Not so in November.
In what may [...]

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I was reading through a story about the King County Council’s 9-0 (4 absent) vote to increase county spending by $3.8 million on “pet causes” when I stumbled upon an interesting line:
Sims, though, said real estate tax revenue is down.
Considering all the stories I’ve been posting about government revenue going through the roof thanks to [...]

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