One of the most frequent arguments you’ll hear if you ask someone to try to justify Seattle’s high home prices is job growth. It usually sounds something like this: “We’ve got Boeing and Microsoft, and all these highly-paid, high-tech jobs are continually being added to our strong economy.” Well, as you all know, we’ve beat…
Year: 2007
Drive by commentary: Street of Dreams, I’m not digging any more post $#%!! holes, Red Sox, market, other stuff.
Bubble Link Roundup Extravaganza
The stories have been piling up in my inbox at a faster rate than I’ve been able to post them lately, so that means that it is time for another bubble link roundup. I’ve got a lot of ground to cover in this post, and I don’t want to totally clutter up the front page,…
Seattle Home Price Appreciation Continues to Deteriorate
The latest (May ’07) Case-Shiller Home Price Index data has been released. Although appreciation is declining right along the path that has been predicted here, you can count on the local media to focus on the “Seattle is special” angle. Seattle-area home values continued to rise in May, bucking a national trend of declining home…
Appraisers “Pressured to Hit the Value Every Time”
And the understatement of the week goes to… Aubrey Cohen of the Seattle P-I, for his sub-headline gem: “As market slows, buyers may find they paid too much“. Moss blankets the house’s roof. The siding is rotting off. And mold has spread through the interior. But the home’s condition is “average,” according to an appraisal….