Seattle Bubble Forum Archive

After telling someone (in the finance industry) that I was a bear on the housing market this weekend, I was told that I should "get serious and start building equity". I didn't know whether to laugh or punch him in the mouth over the idea that because I hadn't bought yet that I wasn't serious. So I kept it to myself and let the conversation move on to other topics. It's just not worth the hassle discussing it sometimes.

Anyone else have similar experiences recently?

Everyday! My co-workers now know that the housingbubble to me, is like most other people's hot button political issues.

Aka, housing to me is like abortion, gun owners rights, the environment etc.

They usually don't even bring it up for fear of my wrath.

a couple of my co-workers recently bought a home and were too afraid to tell me about it as they know my stance. One of them even got 100% financing. This house is in Burien. they paid 600K for it, BUT did talk the seller into a brand new roof and pay all closing costs, So it will list as sold at 600k but in reality, 585K. My other co-worker is buying a condo and doesn't want to discuss it with me. I'm not even that vocal about my beliefs, but I guess the word gets around that I am some wacko who thinks prices are gonna drop. They think I'm the guy holding up the cardboard sign on the corner saying that "The End Is Near"

People at work are a mixed bag in their response to by bearishness on the housing market. Some people listen and find it somewhat intersting. Some think I'm completely full of it. And some just roll their eyes, not because of my opinions, but because I am perfectly willing to go on and on talking about the housing market.

A coworker put his townhome on the market this week (eastside I think) and he had three offers in two days, all of them with escalation clauses. I think he's taking the first offer, since the clauses were all pretty much the same. I didn't ask him about the price itself, but he did say he priced it "aggressively" to sell because he knew the market was soft and getting softer. He bought it back in the late 90's so he's really making bank.