And the understatement of the week goes to… Aubrey Cohen of the Seattle P-I, for his sub-headline gem: “As market slows, buyers may find they paid too much“. Moss blankets the house’s roof. The siding is rotting off. And mold has spread through the interior. But the home’s condition is “average,” according to an appraisal….
Tag: lending
Credit Crunch to Determine Who Flinches First
More words of wisdom from the P-I’s Mark Trahant, who seems increasingly out of place in the stubborn, denial-prone local media. I’ve been on vacation and had a chance to travel around the West. In many of the places I visited, concerns about a real estate crisis are growing. People are starting to fear what…
On the Radar: July 22nd date for new borrowing standards.
Yesterday Inman News had (subscription needed) a piece by Lou Barnes regarding this large blip showing on the Radar screen. The blip kept showing July 22, 2007. The Boston Globe picked up Lou’s piece and you can read it here. New guidelines making it tougher to qualify under interest only mortgage terms begins on July…
One Third of Seattle Homebuyers Have Unaffordable Mortgages
Aubrey Cohen reports on a recently-released report out of Harvard. The report isn’t your usual rah-rah, go housing type of fluff, and actually shows Washington State as being among the markets with a larger percentage of risky loans. I don’t imagine it’s a coincidence that there’s not even a passing mention of the report in…
Rent vs Purchase: A Comparison
Also posted at Priced Out Forever. Buy If You Must. Why Must You Buy? by guest poster Eleua (with contributions and spreadsheets by Tim) Click here to download the Excel Spreadsheet that the numbers below are based on. I need to take a step back and insert a personal note. While I disagree with the…