There were a lot of mildly interesting real estate stories in the local rags this weekend. So, I think it’s time for another link roundup: a list of links that are worth posting, but not each as their own post. The following links happen to all be specific to the Seattle area.
- Christy L. Thomas asks “Is Seattle only for rich folks now?” in a guest editorial for the P-I.
- Pierce County homeowners enjoy 10% appreciation—in their property tax bill.
- The key to financial security is to bank on perpetual 7 percent per year home appreciation?
- Hey, as long as you’re a proud homeowner, you may as well take every opportunity to cash in on your home, right?
- The Times reprinted a warning about the $1.5 trillion ARM reset of 2007 from the Detroit Free Press.
Lastly, I was somewhat surprised to see this quote reprinted in the Seattle Times from a Bankrate.com article:
If you’re looking for the best return on your money, you’re better off investing in the stock market than buying a house. Primary homes generally don’t earn the investment return of financial instruments such as mutual funds.
While the stock market’s long-term average rate of return is in the range of 8 to 10 percent, housing historically has appreciated on average in the low- to mid-single digits. Don’t buy solely for investment gain.
Seen any other good snippets lately?