The cover story in month’s issue of Seattle Metropolitan Magazine is an in-depth look at current state of the local real estate market, and it’s definitely worth checking out.
Much of the data from the piece can be found online: Buy? Sell? Or Hold on for Dear Life?
You can tell that Matthew Halverson put a lot more effort into this piece than the typical magazine puff pieces that merely repeat the cheerleading lines from local real estate professionals.
Take the time to check out the mini-features, especially Why does the thought of becoming a homeowner make me feel crazy? which contains the following gems:
Homeownership has been compared to a rite of passage, similar to, say, losing your virginity. Why is that? Calling it a rite of passage is a good way of putting it. We have an enormous cultural expectation on homes and what they convey or what they mean. So it’s kind of a litmus test, if you will, of success and what all that means for anybody.
Yes, but we’re in America, where ownership equals success and a rental symbolizes coming up short. Why do people equate houses with success? I think consumerism is a factor, particularly if you’ve got someone who keeps on buying something they can’t afford. But I think it’s almost, first, an unchecked assumption: Unless you’re very poor, you will probably think that being able to buy something and own a piece of ground will be a mark of success in life. And it’s gotten to this point now that some people don’t just expect it, they demand it.
Also be sure to read I’ve outgrown my current home. Should I buy now or should I wait? which includes advice from Seattle Bubble favorite Jillayne Schlicke and yours truly.
If you enjoy the piece, I highly encourage you to go out and actually pick up the physical magazine to show some financial support to level-headed reporting in real estate. Tip: Costco sells Seattle Metropolitan for $3.50, 30% off the regular newsstand price.