Seattle Bubble

• Poll: Is it ethical for a home debtor to “walk away” from a mortgage?
• Poll: I’m most thankful for…
• Poll: What’s your favorite pet?
• Poll: The real estate business needs more…
• Poll: I like the Seattle area because of the:

Jump to the bottom to add your comment. ↓

12 responses so far ↓

• 1 softwarengineer // Nov 26, 2007 at 10:04 am

  HOW COULD YOU MISS THE HOME PRICES EVER GOING BACK UP?

  Without average household incomes in America going up this will never happen, ever again.

  What miracle will cause younger first time home buyers’ incomes to rise in Seattle?

  I believe its when capture our new domestic technological inventions in the future and socialize the production like Airbus has [i.e., the 787 is a good example of what not to do].

  That means don’t trust almost all of our domestic companies [foreign owned?] with new American inventions [they don't hardly invest in research and development anymore anyway]; they’ll just outsource almost the jobs it creates to India, China, etc anyway.

• 2 deejayoh // Nov 26, 2007 at 10:22 am

  There is a very related post that covers the topic of “market timing” over at Housing Doom today. Worth reading.

• 3 The Tim // Nov 26, 2007 at 10:35 am

  That post reminds me of a saying I heard about investing. It was something to the effect of:

  Everyone knows that the most basic investment advice is ‘buy low, sell high,’ but many people mistakenly act as if the only viable strategy is ‘buy lowest, sell highest.’

• 4 AndySeattle // Nov 26, 2007 at 10:39 am

  Hey SoftwareEngineer… Could you elaborate on this point: “That means don’t trust almost all of our domestic companies [foreign owned?] with new American inventions [they don’t hardly invest in research and development anymore anyway]; they’ll just outsource almost the jobs it creates to India, China, etc anyway.”

  Not sure I follow you on where you were going with that train of thought.

• 5 TJ_98370 // Nov 26, 2007 at 10:59 am

  For those that may be interested, newspaper articles from Washington, Oregon, and Montana are referenced in this 25 November post on Ben Jones HBB

  It’s not a Sellers Market Anywhere, Anymore

• 6 Ira Sacharoff // Nov 26, 2007 at 12:56 pm

  Some people feel a strong emotional need to own a home, and they’re obsessed, they have to do it. I try to tell these people to take some deep breaths and see if this feeling passes.
  So, yeah, there are a lot of variables in this poll. Like how bad the correction will be, and how quickly the incline will be once the ascent starts.
  My best guess is that in the Seattle area, prices will fall another 15% and hit bottom in fall/winter 2008, and then pretty much do nothing/stay flat for another year or two before going up again.
  Waiting too long to buy?
  That’s certainly drilled into our heads not to do that from many RE industry professionals , but it’s not likely that prices aren’t going to do anything but drop for the next six months.
  If you MUST buy, find a place you can afford. You don’t have to live in that faux chateau, 4000 square feet of it. Live within your means, save money and be willing to hold onto your home for a lot of years, if you buy now.

• 7 Jonny // Nov 26, 2007 at 1:16 pm

  “”Waiting for the bottom,” but missing it and buying six months “late,” as prices begin to recover”

  This is a silly survey. Only /years/ later would you know where the bottom was. Frequently in declines, there are “dead cat bounces” which appear to be a bottom, but then turn into further declines. Six months is not enough time to know where “the bottom” is, so this vote is silly. When the bottom comes, nobody will know for sure that it is a bottom.

• 8 softwarengineer // Nov 26, 2007 at 2:06 pm

  HI ANDYSEATTLE:

  Go to my web site “softwarengineer” and check out the 3rd article on Airbus going anti-global to survive.

  http://softwarengineer1953.spaces.live.com/?_c02_owner=1

• 9 House_Seeker // Nov 27, 2007 at 10:00 am

  Jumbo loans are still too jumbo!

• 10 pat // Nov 27, 2007 at 9:17 pm

  Yeah, who knows when the bottom is hit? Won’t know.

• 11 johnnybigspenda // Nov 28, 2007 at 11:11 pm

  ummm… rhetorical question much?

• 12 Bellevue Ave // Nov 29, 2007 at 1:05 pm

  depends on your motives for buying a house. is it really going to be a home for the ages or are you hoping it will be an investment that pays of 5-10 years down the road?

  i get the feeling that people who say “prices will go back up at some point” are of the 5-10 year outlook, which for a home owner seems to be short term.

Jump to the top of the comments. ↑

Leave a Comment