April Neighborhoods Months of Supply Update

Here’s the latest update on months of supply, or “absorption rates” for the 30 NWMLS areas in King County. For an explanation of what months of supply means, please refer to the original neighborhood MOS breakdown post.

Remember: Over 6 MOS is a buyer’s market, which gives buyers more negotiating power, but doesn’t mean homes are priced attractively for buyers or that it’s a good time to buy. Before this year, the longest that King County as a whole has sustained a MOS above 6 was 4-5 months in the winter of 1994-1995. April MOS for King County came in at 6.21 (up slightly from March), bringing the current run to eight months. In seven of the last eight years, March has been the low point for MOS (2003 was the exception, when MOS bottomed in July). It seems unlikely that the county-wide MOS will drop back below six this year.

In the graphs below, you’re looking at the MOS for the “Res Only” data from the NWMLS King County Breakout pdfs for the nine-month period of July 2007 through March 2008. The bar graph is centered vertically on 6.0 MOS, so that it is easier to visually tell the difference between a seller’s and buyer’s market (i.e. – shorter bars mean a more balanced market). Each graph again has the same scale on the vertical axis and has the King County aggregate figure plotted in red, so they can be easily compared.

For a description of which neighborhoods each area encompasses, as well as a map of the areas and a link to the source data, visit this page.

Note: Area 100 MOS was over 21 in January, and has been clipped.

KC SFH MOS: SW King
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KC SFH MOS: SE King
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Note: For Area 701 (Downtown Seattle) we’re using condo data.

KC SFH MOS: Seattle
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KC SFH MOS: N King
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KC SFH MOS: Eastside
Click to enlarge

The best markets for sellers are yet again found in North Seattle areas 705 and 710 (Ballard, Greenlake, Greenwood, Lake City, Northgate, Wedgewood, etc.), with 3.68 and 3.39 MOS respectively. No other areas were below 4 MOS, but 9 more areas fell between 4 and 6 MOS (weak sellers markets). The Seattle city limits as a whole continue to be a bad place to be buying a home, with a collective MOS of just 4.84. Seattle continues to trend toward a buyer’s market though, with MOS up from 4.54 last month, and this April having over twice as many months of supply as last April, which had just 2.18 MOS.

I discovered an error in my spreadsheet for the downtown condo market, where I had been recording only new listings instead of total listings, which as you can see in the Seattle graph, makes quite a difference. The downtown condo market is clearly a buyer’s market at 6.79 MOS, but it’s down considerably from the peak in December, when there was over ten months of supply.

A few more south King County neighborhoods slipped back into seller’s market territory, but seven of eleven still came in with MOS higher than the county aggregate. Despite/due to having some of the region’s highest prices, the Eastside is still a lousy place to be trying to sell a home right now, with a collective MOS of 7.78 (up from 7.38 in March), and 7 of 8 areas coming in with MOS above the county as a whole. Area 530 (East Bellevue, West Redmond) is the only Eastside holdout for sellers, with an MOS of 5.25 (up from 4.59 in March).

All three of the best markets for buyers were on the Eastside: Area 500 (East Side–South of I-90), 520 (Medina, Clyde Hill, W. Bellevue), and 560 (Kirkland–Bridle Trails). With 11.07 MOS, Area 520 (Medina, Clyde Hill, W. Bellevue) continues to hold the dubious distinction of having the longest-running 10+ MOS streak, now in its eighth month.

Here’s the bonus graph, which lets you directly compare each area’s MOS to one year ago’s value. April 2007 is in red, and 2008 is in blue.

KC SFH MOS: Eastside
Click to enlarge

Whoa now, what’s going on in area 360? Last year it had 8.0 MOS, and this year it’s dropped to 5.5? Quite odd, but when there are never more than a few dozen sales each month, it’s not too surprising to see strange swings like that. This is why I generally prefer to look at county-wide data to assess overall trends. More data means its less suceptible to bizarre bounces. Other than area 360, every other area was more of a buyer’s market in April than it was at this time last year.

The three best markets for sellers as of last month were North Seattle (710) at 3.39, Ballard/Greenlake/Greenwood (705) at 3.68, and Renton Highlands/Kennydale (350) at 4.35. 11 out of 30 areas county-wide came in below 6 MOS. The three best markets for buyers were Kirkland–Bridle Trails (560) at 11.81, Medina/Clyde Hill/W. Bellevue (520) at 11.07, and the East Side South of I-90 (500) at 9.40.

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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.

53 comments:

  1. 1
    vboring says:

    it might be helpful to provide an area map in these posts. or a link to one.

  2. 2
    vboring says:

    never mind, i just noticed that you already did.

    an embedded image still wouldn’t hurt, though.

  3. 3
    EconE says:

    feel free to bump that downtown condo inventory up a notch or two…you know…the non MLS listed builder supply!

  4. 4
    deejayoh says:

    Tim –
    I think Greg Perry’s definition of markets is a good one:
    GT 6 months = advantage buyer
    3 – 6 months = balanced
    LT 3 months = advantage seller

    inventory under 6 months doesn’t automatically favor the seller.

    One other comment, on the eastside statistics: houses over $1mm in price generally take longer to sell. I think you can probably double the rule of thumb above for those properties.

  5. 5
    biliruben says:

    I want pretty color-coded maps!

    Just kidding, Tim. Unless you want to learn about mapping software, which can be pretty darn cool.

  6. 6
    Ubersalad says:

    More color, less words!

  7. 7
    Joel says:

    I also like Greg’s definition of buyer/seller markets better.

    I’ve been curious lately about bridle trails. The few times I’ve driven around there it seemed to me to be a very upscale area, with many large lots with nice big houses and beautiful greenery and located very close to Microsoft. However, it doesn’t seem that houses sell for any more there than in other places on the eastside. Is there something wrong with bridle trails that I’m missing?

  8. 8
    jon says:

    It would be interesting to see a scatter plot of a bunch of years data for MOS vs. price change over the following few months. That would give us a way to get a sense of buyer’s vs. seller’s market.

  9. 9
    The Tim says:

    RE: Maps, maps, maps…

    Hey you guys are whiners. Have a little patience. I’m working on it…

    ;^)

  10. 10
    Alan says:

    Joel, My wife and I have wondered the same thing. We think that maybe there are sewage problems in Bridle Trails. The roads there show signs of a lot of work being done (repaved patches after sewer work).

  11. 11
    Alan says:

    Maps… Wait, they don’t love me like I love you.

  12. 12
    TheHulk says:

    Hey tim, sweet job on the “dymanic” maps :)

  13. 13
    TheHulk says:

    I meant dynamic. Maybe you should add a spell check to this box. Oh wait you already have one! lol.

  14. 14
    deejayoh says:

    #7 & #10
    I have a buddy who lives in Bridle Trails – in a nice, moderate 60’s vintage place. He tells me it’s 2 neighborhoods. Original homes sell in the $600-700k range, get torn down, and a $1mm+ McMansion goes up in its place.

    Fits what I’ve seen. I hadn’t been to his house in ~18mos and was astounded by the amount of teardown activity that had occurred

    The tearing up of the streets you see is probably expanding water and sewage lines to haul away the waste from those housing monstrosities.

  15. 15
    seawaterszzz says:

    The MOS approach seems an attempt to measure the relative stability or equilibrium of the market. But isn’t the best measure of equilibrium based upon a comparison of the inflow and outflow of the inventory? In April in King County the number of added listings were more than double the number of pending sales, and the same imbalance was true for the entire 19-county region covered by the NWMLS. Even assuming a moderate reduction in this disparity of inflow/outflow in future months, if this disparity continues shouldn’t we expect to see an MOS at 12 or more within a year?

  16. 16
    Mikal says:

    Tim, They aren’t all whiners. Just a few of them. And ohh the whining.

  17. 17
    Jonny says:

    meta- whiner

  18. 18
    Rentersarelosers says:

    The best markets for sellers are yet again found in North Seattle areas 705 and 710 (Ballard, Greenlake, Greenwood, Lake City, Northgate, Wedgewood, etc.), with 3.68 and 3.39 MOS respectively. No other areas were below 4 MOS, but 9 more areas fell between 4 and 6 MOS (weak sellers markets). The Seattle city limits as a whole continue to be a bad place to be buying a home, with a collective MOS of just 4.84. Seattle continues to trend toward a buyer’s market though, with MOS up from 4.54 last month, and this April having over twice as many months of supply as last April, which had just 2.18 MOS.
    ……………………………………

    Under 6 months of supply is considered a “sellers market”. Last years 2.18 was rediculously low. With Seattle neighborhoods running arong 3-5 months of supply, gas moving up over 4 bucks and will be closer to 5 in about a month, interest rates creeping up, you have FOUND your bottom.

    Have you wondered why sellers are telling buyers with lowball offers to take a hike? How many rejected offers do YOU have under your belt?

  19. 19

    For time series like you’re doing, simple line charts would be a lot easier to track than the clustered bars. I’ve been staring at these charts for a while and they’re just too confusing to make sense.

  20. 20
    wreckingbull says:

    With Seattle neighborhoods running arong 3-5 months of supply, gas moving up over 4 bucks and will be closer to 5 in about a month, interest rates creeping up, you have FOUND your bottom.

    So let me get this straight rentersarelosers,

    We have food and fuel prices inflating very rapidly (no argument there), but combined with stagnant wages. Tack on to that, tighter lending, the spectre of increasing rates, more down payment required, rapidly increasing inventory, and rock-bottom sales volume, and this causes inflationary pressure on home prices????

    You found your bottom alright, you may now want to remove your head from it.

  21. 21
    Rentersarelosers says:

    wreckingbull,

    You just don’t get it.

    Higher fuel costs will drive more and more people to the Metroplitan Seattle area instead of the burbs.

    Increasing mortgage interest rates will result in able buyers making their moves sooner than later. Maybe you are just not an able buyer, or you just can’t afford Seattle. Hoping prices will tank further here is just that, “hope”.

    I hear homes are dirt cheap around Atlanta, maybe consider a move?

  22. 22
    LUC says:

    Rentersarelosers,

    Why would people move to Metropolitan Seattle? Microsoft is in Redmond. Boeing is in Everett. People would be reverse commuting. Also, Atlanta has a cluster of high tech companies and Coca-Cola in their metro area and their housing prices dropped. What makes you think Seattle is immune? Your argument doesn’t wash.

  23. 23
    Mikal says:

    The next 12 months will tell the tale. Gas prices rising should make in city demand go up and make the far out burbs crash. My uncle lives in Minneapolis and he predicted four years ago that the end of cheap gas would make all the far out building there to become ghost towns over the next twenty years. It is already happening. It is a huge factor that no one can clearly predict what will happen as this is new. The end of cheap gas is upon us. If we had any decent leaders they would have started planning or this day 40 years ago. The answer is definately not to build further out.

  24. 24
    wreckingbull says:

    Why would people move to Metropolitan Seattle? Microsoft is in Redmond. Boeing is in Everett.

    Now, now, LUC, don’t forget that powerhouse employer downtown, Washington Mutual. I am just certain they will be hiring like crazy in the next twelve months, since golly, the future is just so gosh darn bright for them.

  25. 25
    mike2 says:

    Higher fuel costs will drive more and more people to the Metroplitan Seattle area instead of the burbs.

    Generally, I agree. However the neighborhood I live in is within walking distance to a rail station on a line heading straight into DC. SFH and townhomes in parts of the neighborhood further from the rail line are seeing the largest drops. Homes right around the rail stations are still 15% off peak prices. FYI – the crime rate and household income levels in this area make places like North Seattle look like South Central LA in comparison. It’s not just bad neighborhoods in undesirable locations getting hit.

  26. 26
    James says:

    Why by a $700K house and tear it down? If you go to the REAL equestrian properties you are 25-40 minutes south of downtown Bellevue and can buy GREAT HOMES ON ACREAGE between $650K – $2M. Good grief….Microsoft Equestrian “wannabe’s” …cowboy up!

  27. 27
    Everett_Tom says:

    Rentersarelosers ,

    where do you get this dramatic change in mortgage rates? The only chart I can find has shown then down over the year, and pretty much flat recently..

    ( from bankrate, here )

  28. 28
    Rentersarelosers says:

    Why would people move to Metropolitan Seattle? Microsoft is in Redmond. Boeing is in Everett. People would be reverse commuting. Also, Atlanta has a cluster of high tech companies and Coca-Cola in their metro area and their housing prices dropped. What makes you think Seattle is immune? Your argument doesn’t wash.
    ……………….

    LUC,

    Everett will be ok provided Boeing does ok.
    Redmond will be fine.

    Seattle Metro has the majority of well paid employment in those skyscrapers downtown, plus people that want to live close to big city amentities, services and transport.

    I lived through the energy crises in the 70’s, (you were probably in diapers, if even born). I saw what happened to the burbs vs City homes (on the east cost). As gas prices rose, people bought smaller cars and moved closer to the city, city homes rose in price while surburban homes tanked.

    City homes are where it’s at with rising fuel costs AND no end in sight thanks to the “Chindia” boom (China and India demand for fuel has increased 10 x in the past couple of years). The USA are still paying less than Canada and Europe, but that’s another subject.

  29. 29
    Rentersarelosers says:

    The next 12 months will tell the tale. Gas prices rising should make in city demand go up and make the far out burbs crash. My uncle lives in Minneapolis and he predicted four years ago that the end of cheap gas would make all the far out building there to become ghost towns over the next twenty years. It is already happening. It is a huge factor that no one can clearly predict what will happen as this is new. The end of cheap gas is upon us. If we had any decent leaders they would have started planning or this day 40 years ago. The answer is definately not to build further out.
    ………………..

    Mikai,

    It’s nice to have someone here that understands :-)

    The basic fact is, for appreciation going forward, you are better off owning a 500,000 property close to the city vs a 500,000 mansion in the burbs.

  30. 30
    budbrad says:

    Bridle Trails is old money. Not hip enough for most of the techies.

  31. 31
    patient says:

    Bridle trails is mostly dark,damp, spider and moss infested. It’s upmarket though with good proximity to Msft and good schools but I wouldn’t buy there plainly due to the lack of light.

  32. 32
    Scotsman says:

    Mortgage rates will probably start to climb soon. The bond market is looking at increasing demand for money as the .gov ramps up its deficit spending, perceived risk is climbing, and inflation fears are becoming more of a factor. All of these tend to increase interest rates. But higher rates won’t mean rising home prices. In fact, they will mean further decreases in prices as a higher percentage of the available payment goes to interest, and less is available for principle. Also, higher rates will dampen the general economy, raise unemployment, and further depress prices. Any one who thinks higher rates will drive enough people to “buy now, or be priced out forever” is living in a dream. Higher rates have always meant fewer people can afford a given price point. This party’s just getting started, and already I have friends who’ve watched as hundreds of thousands of dollars of equity/value have gone “poof.”

    Anyone who bought after 2005, in city or out in the country, should get ready to write off a good portion of their net worth should they have to sell in the next decade.

  33. 33
    LUC says:

    LUC,

    Everett will be ok provided Boeing does ok.
    Redmond will be fine.

    Seattle Metro has the majority of well paid employment in those skyscrapers downtown, plus people that want to live close to big city amenities, services and transport.

    I lived through the energy crises in the 70’s, (you were probably in diapers, if even born). I saw what happened to the burbs vs City homes (on the east cost). As gas prices rose, people bought smaller cars and moved closer to the city, city homes rose in price while suburban homes tanked.

    City homes are where it’s at with rising fuel costs AND no end in sight thanks to the “Chindia” boom (China and India demand for fuel has increased 10 x in the past couple of years). The USA are still paying less than Canada and Europe, but that’s another subject.
    —————————————————————————————————————
    I was born in ’64 in Philly and raised in Southern NJ. I remember the energy crisis. People were not moving to the cities…in fact people were moving from Philly to across the Delaware to new Southern NJ suburban developments and also to suburban Chester, Montco and Delaware PA counties.

    “Seattle Metro has the majority of well paid employment in those skyscrapers downtown”, I like some some facts and figures. I can possibly think of Amazon adding on employment, but what other major employer is downtown? I recently heard that Uni of Wash is largest employer in Seattle.

  34. 34
    Sniglet says:

    Mortgage rates will probably start to climb soon

    I am not so sure about this. As the credit crunch continues to unwind the demand for sovereign debt of developed nations will continue to be extremely strong. When it comes to choosing between a CDO, stock, corporate bond, depreciating real-estate assets or a US or French government bond, the choice will usually fall to the sovereign debt.

    People will always choose safety over yield when they are concered about risking their capital.

  35. 35
    b says:

    People have been claiming the suburbs are going to die from gas prices for the last 30 years. What has happened during that time? If you do the math, even doubling gas prices from current levels is not going to make it cheaper or better to live in city compared to the burbs unless in city prices drop considerably. If such things were such a serious problem then any city with major toll entrances would have their suburbs dead already. Paying $4-10 extra, sometimes both ways, just to get to work every day has been going in for many years in many major cities without killing the suburbs.

  36. 36
    Mikal says:

    In other times gas went down in price and was expected to. Do you really think we will ever go back to even $3 a gallon? Ridership of buses in Minneapolis ha nearly doubled over the last six months. New buses have been added to routes. That has never happened before to the extent it is. Nobody knows what will happen so maybe you are right, but I think times have changed.

  37. 37
    EconE says:

    WRT gas prices…it’s over $4/gallon down here in L.A. right now.

    I don’t think I’ve seen traffic as light as it has been this weekend for years…many many years.

    I’m sure weekday rush hour still sucks though.

  38. 38
    Alan says:

    It was over $4 in Seattle downtown today and $3.90 in Redmond.

  39. 39
    Rentersarelosers says:

    I can possibly think of Amazon adding on employment, but what other major employer is downtown?
    …………………..

    You are kidding right? You think all those towers are empty?
    Okey Dokey…..

    And by the way you were 10 years old during the last energy crisis. Like they say, when you here an opinion, consider the source.

  40. 40
    LUC says:

    RAL,

    So I was 10 years old during the last energy crisis, so what, I still vividly remember it.

    Name some major employers downtown…are they making plans to expand their ranks? So far you have no facts to back up your arguments. The more you blog, the more ignorant portrait you paint of yourself.

  41. 41
    Chris says:

    Dear Troll, aka Rentersarelosers,

    Based on your excellent understanding of grammar, you must be part of the “majority of well paid employment in those skyscrapers downtown”. Therefore I propose a story-problem for you:

    I spend a lot of time in a lot of “those skyscrapers downtown” (“those skyscrapers downtown”) and I spend a lot of time in offices not part of “those skyscrapers downtown”. Firms in “those skyscrapers downtown” pay a lot of rent compared to payroll. Firms not in “those skyscrapers downtown” have a higher payroll compared to rent.

    Based on your genius-level understanding of accounting, finance and economics, do people in “those skyscrapers downtown” make more, less or the same as those not in “those skyscrapers downtown”?

    Bonus: Based on parking charges of $225/month in many of “those skyscrapers downtown” do “the majority of well paid employment in those skyscrapers downtown” have a higher take-home than the minority of well paid employment not in those skyscrapers downtown?

  42. 42
    Mikal says:

    Chris, my wife works downtown and takes the bus. Come up with another one.

  43. 43
    Chris says:

    Mikal, I also generally take the bus unless I have to drive for work reasons. My main argument is that for all of the high-income employment, there is a lot of regular middle to lower income to support it. I don’t think the median income in downtown is subtantially different than other parts of town. Downtown businesses don’t pay above market rate just because they are downtown.

  44. 44
    Flotown says:

    There are aprroximately 231,000 workers in the greater downtown Seattle area, or about 1 of every 8 jobs in the region. Not bad, when you think about it. Downtown, defined as such, is maybe 10 square miles and the region is about over 1000 square miles

    http://www.downtownseattle.org/content/businesses/Workforce.cfm

  45. 45
    Mikal says:

    The businesses don’t, but the people who don’t want a long commute will pay a premium to live closer. If gas continues to rise it should make it a wash to pay a little more closer in and save the gas cost.

  46. 46
    LUC says:

    Mikal,

    What companies are expanding in downtown Seattle to attracts workers to move closer to Seattle? Your argument doesn’t wash without facts.

  47. 47
    Mikal says:

    Well, gas has risen lets say $1 a gallon over the last year. A person commuting from Arlingtin in an SUV is probably paying an extra $300 a month in gas plus that horrendous commute. I’d rather pay more in housing expenses than put it in the tank plus have more time off the road.

  48. 48
    Mikal says:

    I’m talking about the people already working there.

  49. 49
    LUC says:

    Mikal,

    So you expect me to believe that people will be able to sell their homes in out laying suburbs and buy places in Seattle??? Your logic makes no sense…you said yourself that prices would hold up in Seattle and drop first in the suburbs. T

  50. 50
    Mikal says:

    I’m not sure what will happen. It will be harder to sell homes further out. It already is. Gas prices rising will keep in city prices more stable. Some people who live paycheck to paycheck and are barely making it are screwed. This will never be a cheap area to live. For the people that could barely buy a house and all they could afford is far out of the city, the gas price rise will probably price them out of the market. There are some people that live in the burbs that can afford in city.

  51. 51
    NotaBull says:

    “So you expect me to believe that people will be able to sell their homes in out laying suburbs and buy places in Seattle??? Your logic makes no sense…you said yourself that prices would hold up in Seattle and drop first in the suburbs”

    :)

    Right, so prices will hold steady in the city because the burbs will drop first and hardest (which is happening, and a reasonable hypothesis). Therefore, people will be able to afford an extra couple of hundred bucks in gas a month because that cheap house in the burbs is CHEAP. Therefore, everyone will move to the burbs. Therefore prices in the burbs will increase. Therefore, everyone will move back to the city, which will make that more expensive, and the burbs cheaper. The net result is that everyone will move to the burbs AND the city, and gas will be expensive.

    I think that just about summarizes where we’re going with this argument…

    On the topic of gasoline: It’s not expensive. Sure, it’s double was it was five years ago. But if the price of a big mac doubles, it’s still cheap, just not *as* cheap. People have made car purchase decisions based on hyper-cheap gasoline. Now they’ll have to make a decision based on moderately-cheap gasoline. Instead of that 15MPG SUV (yes, I have one of those too), we’ll buy a 30MPG Camry/Accord/whatever. My MPG doubles, and my gasoline bill is back to exactly what it was 5 years ago.

    Of course, this takes a while to play through the system. People can’t go out and immediately buy a new car when the price of gasoline changes. But if they NEED to because they can’t pay the bills, they WILL. An Everett to Seattle commuter that can’t afford to keep their pickup can easily go out and pick up a used Civic. Sure, their friends may laugh at their new silly car (because you’re only a man if you drive a big car – puff that chest out!) but you’ll be able to afford your mortgage again.

    People like to complain about gas prices, just like any perceived “tax” on their existence, but that doesn’t mean it’s expensive. Ever since gas prices went over $2 a gallon we’ve heard economists predict that people will use less when it gets a little more pricey. It didn’t happen. Now it’s finally happening because we’re at the point where families need to actually change something in order to make the budget work. They’re dumping SUVs and buying more efficient cars. Fortunately, if you have a 15 MPG SUV, the world is your oyster when it comes to more efficient cars. Now, if we were all driving 40MPG Smart Cars and the price of gasoline went from $4 to $8, then I would be more worried.

    http://blogs.cars.com/kickingtires/2008/05/nows-not-the-ti.html

    “CNW says that, thanks to high gas prices, dealers have a 130-day supply of unsold SUVs on their used lots that were taken in trade — more than double the 57-day supply they had a year ago. A 60-day supply is considered normal.”

  52. 52
    LUC says:

    Thanks Notabull, that argument was going in circles. :)

    I agree with you about gas prices and fuel efficient cars. My former company had me in Southern Germany for an extended period of time back in ’04. We were all amazed about the tiny little Smart Cars we saw in Stuttgart and also on the Autobahn. Also learned about the quiet, fuel efficient, common-rail diesel engines used by Mercedes-Benz. I believe gas prices back then was the equivalent of $6/gallon. By all comparisons our gas is cheap compared to Europe.

  53. 53
    NotaBull says:

    “I believe gas prices back then was the equivalent of $6/gallon. By all comparisons our gas is cheap compared to Europe.”

    I’m from Europe originally and travel back every so often. Last time I was there, I rented a Saab 93 Turbo Diesel wagon. It was pretty speedy, although no sports car, and I got 41MPG AVERAGE. OK, these are UK gallons which are a little bigger, and diesel has a higher energy density. But still….

    The thing that’s great about the US is that, unlike EU, it’s not willing to compromise. In the UK when gas prices go up, people shrug their shoulders and buy a smaller car even if they don’t want to (and most people don’t want to). In the US, there is an attitude that we can solve this problem a different way. “I want my SUV *and* I want it to be efficient, dammit!”. I think we’ll end up meeting in the middle somewhere as I’m not sure a Chevy Tahoe can ever get 40MPG on the freeway (please, someone prove me wrong). Still, the new Chevy Tahoe hybrid gets 21MPG in the city, like my 4 cylinder Subaru wagon does.

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