Seattle Bubble and I were recently featured on the Canadian network Real Investments Television. I am unable to embed the video, but you can view the segment here.
Note that I do not personally consider myself to be a “real estate guru,” as the TV folks seem to have become fond of calling me (though I am flattered). While this program got some minor points of fact incorrect, the piece as a whole is good, and I feel it did a good job of accurately reflecting my views on today’s housing market in Seattle. I’d like to extend my thanks to Jamie Ross for inviting me to be on the program.
The crew also interviewed Jillayne Schlicke of Rain City Guide fame, as well as Mack McCoy from SREP. Apparently those segments will be aired at a later date. When they do air, I believe you should be able to find them at this link.
he cooks, he cleans, he compiles stats that shock and amaze….THE Amazing Tim.
Tim,
Question: you state that Seattle home prices will fall 20% to 30% from peak to bottom..I think you thought this before the world wide market crashes (despite today’s 900 pt gain in the DOW). Countries are going bankrupt (Pakistan next which is really interesting since they have received billions from the US), major companies are receiving massive capital infusions. Will a deeper than you expected recession change you Seattle home market prediction…could Seattle fall 40%..
AndyMiami,
Certainly, if the worldwide economy gets really bad, I believe prices will fall further. 20-30% off peak sortof assumes only a mild to moderate (protracted) recession.
Whatever percentage Seattle real estate falls from peak – 30-40% IMO, it will still be much less painful than So Cal, Miami, Phoenix and Las Vegas. They could easily see 60-70% off peak given the insane appreciation they saw from 2002-2006.