Comments on: Housing Predicted To "Cool Off" In 2006

By: Goldeneye977

Goldeneye977 — Thu, 19 Oct 2006 07:35:20 +0000

10-15% drop in prices?? You must be dreaming. This has never happened before in Seattle and don't think it will happen now. In the last crash SFO lost about 3.8% in 5 years. I would think the same would happen to Seattle, should this bubble burst. Today housing starts were up 5.9% so I think the housing bust may already be over. My gut feeling is that if the economy cools more than expected, the Fed is going to start lowering rates next spring and when that happens, housing may get a new life. This is what happened in Australia and UK. In fact, in the UK, housing after stalling for a while has started a double-digit ascent again.

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By: Van Housing Blogger

Van Housing Blogger — Thu, 22 Dec 2005 07:20:59 +0000

No real signs of a turn in Vancouver yet either. We've got construction cranes all over the city building condos. We might not see anything until the newly built condos start to flood the market in 2007. But, who knows?

VHB

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By: biliruben

biliruben — Tue, 20 Dec 2005 19:46:50 +0000

Where we are now:
http://www.benengebreth.org/housingtracker/location/Washington/Seattle/

So, it looks like prices may currently be topping out, but inventory continues to be extremely tight. This will change as it becomes apparant to the "investors" that appreciation has maxed-out.

I predict this will take 3-6 months of stagnant price appreciation.

Late spring we see inventories start to really build due hesitant buyers and cash strapped, panicky flippers.

Late summer to the fall 2006, prices start to slip.

2007, we see 10-15% median house prices, with Condos and high-end taking a bigger hit.

2008-2009, continued declines with a leveling out in 2009. Single family housing off 20-30% from their 2005 peak. High-end (million-plus) and condos have lost close to 50% of their value.

2010, a return to a more rational 4-5% growth in prices. I start to shop for a house.

Just a guess.

Reply - I predict this will take 3-6 months of stagnant price appreciation.Late spring we see inventories start to really build due hesitant buyers and cash strapped, panicky flippers.Late summer to the fall 2006, prices start to slip. 2007, we see 10-15% median house prices, with Condos and high-end taking a bigger hit. 2008-2009, continued declines with a leveling out in 2009. Single family housing off 20-30% from their 2005 peak. High-end (million-plus) and condos have lost close to 50% of their value.2010, a return to a more rational 4-5% growth in prices. I start to shop for a house.Just a guess.',''); return false;">Quote