Reuters: Seattle, Manhattan could be next housing downturn

[The Tim]

[deejayoh]

I've been looking at the radarlogic data pretty closely for the last couple of months. It's nice that you can get daily updates, and apparently they are kicking case-shiller's butt on trading volume.

According to their data, Seattle "peaked" on 6/26/07 at $236.07/sq ft - and is off 7.5% from that per their latest quote ($218.38 as of 12/14/07). Based on the 28-day moving average that's an annualized rate of decline of just over 16%!!!

I can't seem to find futures quotes for Seattle.rpx index. That would be interesting data to have.

[Lake Hills Renter]

But haven't you heard, Tim? Microsoft is breaking ground on 100 million sq ft for 300k employees. As long as Microsoft is raising buildings, the housing market is perfectly peachy, because every employee makes $500k/yr and singlehandedly drives up net in-migration and drives down unemployment rates.

[perfectfire]

[rose-colored-coolaid]