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Excerpts from May 2007 Homebuilder monthly report

mike2mike2
edited May 2007 in Seattle Real Estate
The article focuses on CA, but Seattle is shown on several of the charts. the price to rent chart has a historical comparison. According to this report 20 is the historical multiple, and we're currently at 37.

San Francisco: 40% of last year's loans are IO or neg-am

Comments

  • LionelLionel
    Thanks, Mike. That's one eye-opening series of charts. Wow.
  • TJ_98370TJ_98370
    Great post mike2.
    ...Point is, and always was, there's nothing in the fundamentals that explains prices now. Not interest rates, wages, building costs, availability of land, rents, etc. Nothing. The only thing that is keeping the prices where they are right now is speculation....
  • deejayohdeejayoh
    But Mike, you are forgetting what happened last year. I read a bunch of posts this morning that the market was great last year. and the year before that - whoa!

    If we could just get more posts on this board of what happened in the past, it would make the discussion easier.


    I guess I woke up in sarcastic mood this morning :wink:
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