Monday Open Thread

This is your open thread for today. Please post random links and off-topic discussions here.

Update: Since commenting has been pretty light lately, I’m going to go back to having just four open threads per week. After Christmas and New Year, I’ll probably bring back the Tuesday and Thursday open threads.

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About The Tim

Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market. Tim also hosts the weekly improv comedy sci-fi podcast Dispatches from the Multiverse.


  1. 1
    Anonymous says:

    This doesn’t seem too unrealistic to me:

    – not quite as devastating as some of the discussions I see here suggest, but not the usual spin of the press either.

    What do you all think?

  2. 2
    Lake Hills Renter says:

    Pretty quiet around here lately. I spent the weekend getting caught up on Battlestar Galactica and not thinking about housing. =)

  3. 3
    msrelo says:

    Heres an update on an older story. I wonder if this same type of thing is going to repeat itself in the coming months.

    I used to hang out with this guy and even ten years ago seemed like he was always up to no good.

  4. 4
    Nolaguy says:

    A booming subprime mortgage industry put millions of people in homes over the past few years, generating juicy profits for lenders and fueling billions of dollars in mortgage-backed securities issues.

    Now, a sharp downturn for the subprime mortgage business represents the latest sign of trouble in the teetering housing industry.

    Past-due mortgages and foreclosures have been growing over the last 12 months. And subprime lenders are struggling with shaky loan quality, increased competition and unusual interest rate movements.

    “The housing market is going down,” said David Liu, a mortgage analyst at UBS AG in New York. “In a slower market, it’s the weakest borrower and the weakest lender that are the first to go.”

  5. 5
    Lake Hills Renter says:

    Wow, I’m pretty slow. So “s crow” is Tim Kane from RCG? I just now realized that. =/

  6. 6
    redmondjp says:

    ICOS in Bothell confirms that all employees will be laid off if buyout is completed: Seattle Times article

    That’s 550 local jobs, many of which pay well above the median income for this area. That’s a few hundred people who can no longer afford a McMansion. Will the new-hires at MS offset these job losses? Don’t know. Some of the workers will probably be able to find similar employment at other local biotech firms, or they may have to move out of state in order to find work.

    In the big picture, this one event doesn’t make or break the local economy, but I suspect that many of the new jobs in the area don’t pay nearly as much as some of these workers were making.

  7. 7
    wreckingbull says:

    For an area that is betting its future on biotech, we sure can’t seem to keep biotech jobs or corporations here.

    I say this as Nickels and crew are ripping up the street in front of my office in order to build Paulie Allen’s personal biotech streetcar.

    Don’t worry, it’s only a $60 million project.

  8. 8
    redmondjp says:

    I hope all those new workers can take the bus or walk, as there may be no place to park in Seattle!

    And the [puts flame suit on] enviro-nazis just can’t leave well enough alone, now they’re CAO’ing the City of Seattle proper (from article linked above):

    The council also passed the “Seattle Green Factor” on Monday, which will require all new development in commercial zones outside of downtown to cover 30 percent of the property with grass, trees, green roofs with vegetation, vine-covered walls or permeable paving. Steinbrueck believes Seattle would be the first city in the nation to impose such a requirement.

    I wonder if moss-covered concrete counts? Everything in Seattle turns green eventually . . .

    All brought to you by the wonderful City of Seattle, where we want to force you to stop using your car, and are still taxing you for a monorail that you will never get to use!

  9. 9
    Kris Gray says:

    Whats up with this condo and its price adjustments?

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