Bubble more serious than reported?

[RobVG]

[jillayne]

Many years ago, let me see if I can get the timing right...it was about 1989, 1990, I worked at a title company and I worked with lots of builders. It was no fun having to make a sales call on a builder to tell him that we could no longer insure his titles because he had not been paying his subcontractors (and hence the title company had to write the check to the sub in order to clear title so the title policy could be issued to the lender.)

Here's how to check out what's happening locally, now: Look for an increase in lien filings by subcontractors against new construction homes. Title companies must act fast in a changing market or else they could face thousands in losses.

Many title companies have laid off staff all across the Puget Sound region, closed branch offices, and some have even put their staff on 4-day work weeks.