Seattle Bubble

From today’s Everett Herald: Housing slump hits local banks hard
Low interest rates, the loss of the home construction boom and investor pessimism all are weighing down on bank stocks, dealing a big blow to all three of the local banks traded on Wall Street.
Lynnwood’s City Bank, along with Frontier Financial and Cascade Financial — both [...]

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Hmm, odd. The pace of foreclosures in the Seattle area seems to still be increasing.
The nationwide foreclosure surge continued in March, with the Seattle area following along at a lesser rate, according to a new report Monday.
The number of properties with foreclosure filings nationwide rose 57 percent in March from a year earlier and [...]

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