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Year: 2008
Propaganda, Debt Bites Back, Foreclosures, and More
Time to clear out my inbox. Following is a handful of short excerpts from things I’ve been emailed in the last few weeks. Enjoy. First up, a delightful “Home Economics Wall Chart” that is designed to “focus the consumer on the benefits of owning.” It’s Estate of Mind, Inc.’s Visual Guide to the Housing Market….
Revisiting the Median Price Sales Breakdowns
I think it’s a good time to revisit the median price discussion that I first brought up last August. The median price is a decent indicator of the general direction of home prices, but it definitely has shortcomings. The biggest problem is that the median is largely influenced by the mix of sales between high…
A remarkable period in time: a changed market.
I’ve got so many topics to talk about but very little time. I have to start somewhere. Just months ago it was not uncommon (understatement) to see 100% financed nothing down purchase transactions with various ARM’s tied to LIBOR or other indices coupled with hefty pre-payment penalties, interest-only hybrids with no escrow impounds for taxes…
Strong Local Economy Faltering, County Facing Large Deficit
If you think our “strong local economy” is going to protect the Seattle area from feeling a pinch in the housing market and elsewhere as recession looms on the horizon, think again. The pinch is here. With a cooling economy pinching tax revenue even as government costs rise, King County faces a $45 million budget…