Tacoma just can’t catch a break.
http://seattletimes.nwsource.com/html/businesstechnology/2010119116_webexpedia22.html

Well, the good thing is, is that the call center is in the US. Another good thing is, that the people that move can buy houses after the bust. A bad thing is, is that they have to move to Las Vegas.

wow.

I can see how posthoc and can relate to the quality of schools.

Your kids are a bit small to be unsupervised on your current street.

I’m waiting to hear back from posthoc as to a new neighborhood for you to toss your youngsters out into the street unsupervised.

http://en.wikipedia.org/wiki/Halo_effect

Honestly I feel as if most of the bear arguments on this site have been rebutted, more than amply, by Elizabeth Warren’s 2004 book “The Two-Income Trap.” I would argue that, even setting aside speculative excess, or funny-money Fed policies, a major driver of escalating real estate prices over the last generation has been the conversion of many households with children from one income to two incomes, and the subsequent bidding-up of desirable homes in good neighborhoods, and a subsequent halo effect.

(Warren is part of Obama’s administration, so whether or not you agree with her, her views have to be taken seriously as potentially affecting all of us.)

From CNN’s Lauren Kornreich

TARP Special Inspector General Neil Barofsky said the government’s decision to support bank mergers may have put the U.S. economy more at risk.
WASHINGTON (CNN) – The banking system today may be in a more precarious position than it was a year ago, the man charged with overseeing a $700 billion bailout program said Wednesday.

Neil Barofsky, the special inspector general managing the Troubled Asset Relief Program, told CNN’s Wolf Blitzer on Wednesday that the government’s decision to support bank mergers over the past year may have put the U.S. economy more at risk.

“These banks that were too big to fail are now bigger,” Barofsky said. “Government has sponsored and supported several mergers that made them larger and that guarantee, that implicit guarantee of moral hazard, the idea that the government is not going to let these banks fail, which was implicit a year ago, is now explicit, we’ve said it. So if anything, not only have there not been any meaningful regulatory reform to make it less likely, in a lot of ways, the government has made such problems more likely.

“Potentially we could be in more danger now than we were a year ago,” he added.

Okay, there went your credibility…….and you were doing so well up to now.

Heh. Have you seen “District 9?” I thought it was pretty clever. Next thing you know it’ll be zombies on unemployment. “Zombieland?”

Rule #1- “cardio” ;-)

http://weeklyworldnews.com/alien-alert/12879/aliens-on-unemployment/

RE: DrShort @ 18 –

Why not just send me your down payment, ’cause it sounds like you’re going to lose it anyway, and I can put it to better use than some criminal bank. And you won’t miss it because in two years you’ll be able to buy something you never thought you could afford…. if you aren’t locked into some upside down short sale.

Too harsh? Re-read your own post, have a beer, and call me in the morning. ;-)

I’ve looked at 75+ houses and finally found one I like and think is a good deal. Apparently, I’m super picky. This isn’t an investment for me and I plan on being here for 10+ years. However, I’ve carefully chosen a house I think will retain value as compared to the market (not new, cookie cutter, etc.).

Prices may countinue to fall, but the house price/rent and home price/income ratios are MUCH closer to historical norms than they were 20 months ago when I sold.

If they’re so worried about the delays due to strike, they have a lot to learn about the delays due to a single supplier not producing.

Especially if the 787 is Terminated

Why didn’t those buffoon CEOs terminate the 787 last year? By now, the embarrassment would be over and a new aluminum development plane [made locally with decent sub-assemblies] would be on the market. But I’m not their CEO, so what do I know?

For all you diehard globalists that would never blame Boeing’s current 787 problems on foreign junk, article in part:

“….Boeing Co. Chairman and Chief Executive Jim McNerney said the company had overreached in outsourcing production on its marquee 787 Dreamliner program, leading to a string of problems…”

The rest of the WSJ URL:

http://online.wsj.com/article/SB10001424052748703816204574486964008811696.html?ru=yahoo&mod=yahoo_hs#articleTabs_article

I wouldn’t be surprised to see prices drop another 10% – 15%

For what it’s worth, I suspect we are going to an additional drop in prices on the order of 50% to 70% from where they are now. Of course, this won’t happen all in one year, and we could easily see a year or more where prices “recover” before we finally hit bottom.

http://bit.ly/YlmXD

Why not just send me your down payment, ’cause it sounds like you’re going to lose it anyway, and I can put it to better use than some criminal bank. And you won’t miss it because in two years you’ll be able to buy something you never thought you could afford…. if you aren’t locked into some upside down short sale.

Too harsh? Re-read your own post, have a beer, and call me in the morning. ;-)

We need more STATS!! That’s what brought me here, that’s what keeps me refreshing. Op posts are nice but I want more hard analysis (I’m also an engineer! Yes, Boeing if you ask). Don’t get me wrong Tim, I value the opinion and insight, but I want more charts, tables and calculators!!! Bread and butter SeattleBubble stuff!

How about a post on average salary in the region, also broken down by county and income tiers (high, med, low), and what that can buy ‘affordably’ with 3, 10 and 20% down? Those charts would be interesting and provide insight into the current underlying “buying power” of the region.

Just my two cents, I don’t make the posts (and thus don’t make any money off them), I just read ‘em. Keep up the good work tho! Consider it constructive criticism…

I wouldn’t be surprised to see prices drop another 10% – 15%, but I felt we’ve had enough correction in the market where I could focus on finding the right house rather than timing the bottom. But I must admit, the prospects of further declines scares the hell out of me.

I work with a lot of Real Estate agents. Most are way below the number of deals they normally do. The second part is the number of agents who also carry mortgages on investment properties. Many have sold properties, others are holding out for the market to improve. I think every agent agrees that things will never be like they were in the past ten years.

I would be very interested in a guest post from Brent Fosso. I would also like to hear more from other Real Estate agents. There are other perspectives of the market place from people who do more than purchase a family home.

I advertised primarily on Seattle Bubble primarily because I like the site and believe in it. I know, I could have simply donated and kept it anonymous, but I am in fact a real estate agent, and even if I just got a few comments like ” So much more entertaining and funnier than typical real estate ads”, it’s worth it.
Plus, Seattle Bubble is a good place to advertise. As has been shown, typical Seattle Bubble readers are smart and have money….That they’re reluctant to part with that money makes them even smarter. In short, these are my peeps.

I will, however, need a shower after visiting SREP. Kary is the only ray of hope over there…

As a cat person, I often wonder why there are no pictures of realtors holding cats….

Someone apparently hasn’t read my profile over at SREP. ;-)

“Home values are predicted to drop in 342 out of 381 markets during the next year, according to a new forecast of real estate prices.
Overall, the national median home price is predicted to drop 11.3% by June 30, 2010, according to Fiserv, a financial information and analysis firm. For the following year, the firm anticipates some stabilization with prices rising 3.6%.
In the past, Fiserv anticipated the rapid decline in home-sale prices over the past few years — though it underestimated the scope.
Mark Zandi, chief economist with Moody’s Economy.com, agreed with Fiserv’s current assessments. “I think more price declines are coming because the foreclosure crisis is not over,” he said.”

http://finance.yahoo.com/news/Homes-About-to-get-much-cnnm-699910894.html?x=0

Who ya gonna believe?!?

Like Lemmings Lined Up Jumping Off the Cliff….LOL

Housing Market Has Bottomed, Banking Analyst Bove Says

Posted By: Antonia Oprita | Associate Web Producer, CNBC.com
CNBC.com | 21 Oct 2009 | 09:21 AM ET

The biggest problem that banks have faced was the fall in the housing market, and this seems to have bottomed, Rochdale Securities banking analyst Richard Bove told CNBC.

“I really believe that the industry has bottomed, that we’re not going to see further crashes in home prices or in home sales,” Bove told “Squawk Box.”

http://www.cnbc.com/id/33411724

SARC/

http://www.redfin.com/WA/Seattle/1708-47th-Ave-SW-98116/home/329834

What does that say about the business enviorment for Real Estate agents? As the housing market contracts there are fewer deals for fewer agents. Will the Top Producers keep a market share or will it cost them too much money in over head to justify the time spent for the fewer deals?

Then where does the consumer go for advice about that home purchase? How will the commission structure have to change?

http://bit.ly/4Gd2A

For amusement, I also posted “Microsoft Program Management for Dummies”, describing what I experienced in my career at Microsoft.

http://bit.ly/dHttu