Cheapest parts of King County still make up the largest share of sales, even as prices there grow the most

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It’s been a few months since we took a look at the in-county breakdown data from the NWMLS to see how the sales mix shifted around the county. I like to keep an eye on this not only to see how individual neighborhoods are doing but also to see how the sales mix shift affects the overall county-wide median price.

As of March, prices are up from a year ago in the low-end regions, flat in the mid-range regions, and down in the high-end regions. Meanwhile, the share of sales is tilting toward the low-end regions.

In order to explore this concept, we break King County down into three regions, based on the NWMLS-defined “areas”:

  • low end: South County (areas 100-130 & 300-360)
  • mid range: Seattle / North County (areas 140, 380-390, & 700-800)
  • high end: Eastside (areas 500-600)

Here’s where each region’s median prices came in as of March data:

  • low end: $379,000-$593,750
  • mid range: $615,000-$1,090,000
  • high end: $814,037-$2,586,183

First let’s look at the percentage of each month’s closed sales that took place in each of the three regions.

% of Total King Co. SFH Sales by NWMLS Area

The last few years have each followed a similar pattern: while sales in the mid-range regions maintain a fairly steady share of sales in the county each month, sales in the cheaper parts of the county (South King) surge in the winter and dip in the summer, with sales in the most expensive parts (Eastside) doing the opposite. Except for a big spike in Seattle in February, so far we’re seeing the same pattern this year.

The raw number of sales in all three tiers increased between February and March. Month-over-month sales were up 35 percent in the low tier, up six percent in the middle tier, and up 42 percent in the high tier.

Meanwhile, year-over-year sales were down in all three tiers. Compared to a year ago, sales decreased five percent in the low tier, fell seven percent in the middle tier, and dropped four percent in the high tier.

As of March 2019, 37.9 percent of sales were in the low end regions (basically flat from 37.8 percent a year ago), 32.0 percent in the mid range (down slightly from 32.6 percent a year ago), and 30.1 percent in the high end (up from 29.6 percent a year ago).

Here’s that information in a visual format:

Bank-Owned: Share of Total Sales - King County Single-Family

Here’s an updated look at the percentage of sales data all the way back through 2000:

% of Total King Co. SFH Sales by NWMLS Area since 2000

During the housing bubble that burst in 2008, South King consistently had the largest share of sales. We’ve seen the same thing over the last few years as prices have once again grown to astronomical levels. In the lead-up to the big 2008 bust, sales in South King fell as sales in Seattle gained ground. February’s spike in Seattle’s sales share could be a portent of a similar pattern, or it could just be a blip. We’ll see over the next few months.

Finally, let’s have a look at each region’s (approximate) median price (actually the median of the medians for each area within the region).

Median Price of Single Family Homes Sold

All three tiers saw month-over-month gains in their respective median-median price, but only the low tier is currently at an all-time record high. Month-over-month, the median price in the low tier rose three percent, the middle tier increased eight percent, and the high tier gained nine percent.

Eighteen of the twenty-nine NWMLS regions in King County with single-family home sales in March had a higher median price than a year ago, while 23 had a month-over-month increase in the median price.

Here’s how the median prices changed year-over-year. Low tier: up 5.2 percent, middle tier: up 0.1 percent, high tier: down 4.7 percent.

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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.

1,161 comments:

  1. 1001
    LessonIsNeverTry says:

    By Erik @ 952:

    RE: MD @ 951 – I wouldn’t read to deep into our interactions. We have just run out of things to talk about because Tim isn’t posting any new data. I recommend looking at things like GDP and jobs in America which are both doing very well.

    Erik, I try to give you the benefit of the doubt…. but those are both known lagging indicators.

  2. 1002
    Erik says:

    RE: LessonIsNeverTry @ 1001
    I have to agree, but it’s better than analyzing the comment section of Seattle bubble to see if it’s a good time to sell or not.

  3. 1003
    LessonIsNeverTry says:

    By Erik @ 972:

    RE: Joe @ 971 Now is a buying opportunity since the market has softened. King County inventory is still historically low

    Do you mean low relative to history (the average), or historically low as in “never been lower”. Because the latter is emphatically untrue.

  4. 1004
    LessonIsNeverTry says:

    By Justme @ 963:

    Weekend update, King County active inventory, graphical edition
    Commentary: This weekend is the Memorial Day weekend, and something remarkable happened: Instead of the usual new listing slowdown and associated slide of inventory count before the Memorial Day Weekend (MDW), this year the inventory made a U-turn midweek and headed higher again.

    I see a huge blast of inventory prior to MD, with a slightly larger than usual MD inventory decline week over week this weekend. Next week will be fascinating to watch. If the inventory follows the usual seasonal curve we may end up with a 5500 count for King County active inventory in September. If it climbs above that curve I’ll be seriously worried about a recession. If it falls below I suspect prices flatten.

  5. 1005
    Erik says:

    RE: LessonIsNeverTry @ 1003
    I’m not even gonna answer that. The wife wants me off my phone, so I’m not wasting my time here for a while.

  6. 1006

    RE: Erik @ 1005
    LOL Erik

    If I were your wife I’d want you off the phone too…assuming your son is about 2 months or younger old….let’s put it this way, the diaper changing is 24/7 chronic and continuous at that age, so the fun goes on and on…they cry LOUD if you don’t cuddle ’em….been there done that…LOL

    it gradually gets better Erik, then you both can sleep better ;-)

  7. 1007
    Eastsider says:

    By Erik @ 998:

    I’ve started a successful real estate investing business since being on here and you haven’t. That’s why you are jealous of me. I’m not stopping you, what is stopping you is your own fear of failure. Trying to beat me down will not get you or me any further along. If you don’t own anything, it’s a no brainer to me, go buy something.

    I have no doubt many posters here have vast knowledge/experience/vested interest in RE. My advice to you is to stop talking down on anyone you disagree with. I’m not jealous of you. I wish you luck because you will need a lot of it in this (overpriced) market.

  8. 1008
    dariakus says:

    By Eastsider @ 1007:

    By Erik @ 998:

    I’ve started a successful real estate investing business since being on here and you haven’t. That’s why you are jealous of me. I’m not stopping you, what is stopping you is your own fear of failure. Trying to beat me down will not get you or me any further along. If you don’t own anything, it’s a no brainer to me, go buy something.

    I have no doubt many posters here have vast knowledge/experience/vested interest in RE. My advice to you is to stop talking down on anyone you disagree with. I’m not jealous of you. I wish you luck because you will need a lot of it in this (overpriced) market.

    Millions of experienced real estate investors got shellacked in the last bubble. They’ll get shellacked if this is a bubble too. Ultimately long term they’ll be fine. I’d appreciate any home price relief I can get at the moment though, because I can’t even get into the market at present.

  9. 1009
    Erik says:

    RE: softwarengineer @ 1006
    5.5 months. He screams when your eyes aren’t directly on him.

  10. 1010
    Erik says:

    RE: Eastsider @ 1007
    Joe and Justme are trying to manipulate the market. Sfrz is cheering on the lies. If it’s not to manipulate, it must be ignorance. I don’t like manipulators and liars.

    I’m not that successful or skilled person in real estate. I’m just a guy trying to make a few extra dollars for my family.

  11. 1011
    Erik says:

    RE: dariakus @ 1008
    I agree, you need to jump on something. I’d buy a house north or south of Seattle right now and live in it 2 years and then sell. That will get you in the game. You gotta be in the game to score.

  12. 1012
    sfrz says:

    RE: Erik @ 1010 – Yawn…. are you finished with your bullying tactics? It’s getting tiresome.

  13. 1013
    Armk says:

    RE: Justme @ 967

    Realized I didn’t tag you in my earlier post. Just wondering, what data points would you need to see in order to think “this is the bottom, I’m going to buy in”? When inventory starts heading south on a year-over-year basis? When prices reverse and stop declining year-over-year? Just curious what metric you are using to pick the bottom in prices and time your buy in.

    Related note, I saw an article this week about the Manhattan housing market seeing a full year of prices declines (year-over-year), but that is now spurring people to get in (in the form of higher transaction numbers), so looks like some there are thinking “this is it.” Are you perhaps looking for a 10% or 20% decline in prices from peak? Really just curious about your rationale and how you arrived there. From a fellow would-be bottom picker.

  14. 1014
    Eastsider says:

    By dariakus @ 1008:

    I’d appreciate any home price relief I can get at the moment though, because I can’t even get into the market at present.

    Here is my 2 cents. The primary reason prices are out of reach in so many places including Vancouver, Seattle, Sydney etc is the unprecedented amount of liquidity pumped into the system by global central banks. When liquidity disappears, as in Vancouver, prices plunge because they are out of reach. In today’s Seattle market, only the well to do (top 20% household?) can afford an average home. This is clearly unsustainable without the excess. So you can blame the Fed for the massive asset bubbles in RE, stocks, and debts. The Fed has more influence on prices than any forecast made by people on this board.

  15. 1015
    disasteraverted says:

    RE: Eastsider @ 1014

    Your synopsis jives with me, but the question is when will the fed ever raise rates? Clearly if they returned to even modest levels, the market would tank. The economy isn’t as great as everyone says it is when the fed rate is so low.

    We’ve been looking for a small SFH to live in around Burien. We have cash. I finally found a good candidate, but I’d rather not take a bath on it in 2-3 years. I guess getting some cheap loan might mitigate that.

  16. 1016

    Soon the Seattle Area Strawberry Farms Will Need More H-2C Green Cards? Apple pickers later?

    Nope….robots can replace illegal aliens now for a fraction of the costs involved with housing and feeding them…

    https://www.theguardian.com/technology/2019/may/26/world-first-fruit-picking-robot-set-to-work-artificial-intelligence-farming

    The low skill jobs are all unnecessary soon at a theater near you…this includes hamburger flipping too you Red Robin fans…its happening now not 2030. AMZ will soon all be “red eyed robot job terminators” to….

    LOL…they can even replace attorneys with call centers in India…

  17. 1017
    LessonIsNeverTry says:

    RE: Armk @ 1013 – My thoughts on your question for Justme.

    Seattle economy remains strong and the massive home price run up, as with any asset market, does not mean it *must* crash.

    However, housing fundamentals and prices indicate an overvalued market. It can stabilize without a crash but a further massive run up is now much less likely.

    We are about to set a record for longest expansion in US history. Many leading indicators show economic weakness looming. There is no good way to predict a recession so timing it is a fools game. However, it is safe to say the risks of a recession have increased.

    A recession is the most likely way to get a crash. It would be a stress at the margins of an overvalued market. Even a 2% increase in local (lagging) unemployment rate would be enough to force some sales. Since Months of Supply is single greatest predictor of future housing prices, a recession would increase MOS and put downward pressure on home prices quickly. The question is: Does it force enough sales to kill desire for ownership?

    So, the short version:
    1. Buy now if you are staying in same area 10+ years. Without appreciation, renting is now cheaper than buying, so the usual 7 year rule of thumb is invalid.

    2. If living situation is somewhat uncertain over 10 years, wait for another year to see if a recession has started. If it has, keep renting. Prices will likely fall 25%-40% in real terms. If there is no recession, see if the Fed has restarted QE in full. This is the only way prices will rise significantly in nominal terms. If they have you may want to buy the cheapest place you can afford simply to have risk mgmt against inflation.

  18. 1018
    Erik says:

    RE: sfrz @ 1012
    Yes, I’m done for now. It became very clear to me that people on here were trying to manipulate my friends into making bad decisions. You are part of the lies whether you knew it or not. I will consider the swamp drained for now. When the lies start back up, I’ll jump back in.

  19. 1019

    Europe Union at Each Other’s Throats With Knives Now

    https://www.reuters.com/article/us-eu-election/nationalists-surge-in-eu-parliament-vote-but-pro-eu-parties-remain-dominant-idUSKCN1SX0P7

    Microsoft Seattle business centers in EU at risk now?

    https://www.microsoft.com/en-us/contact_centraleasterneurope.aspx

    I see a lot of lawsuits against American high tech companies by the EU, now it should get FAR worse? How about the Boeing and Airbus fight too? Boeing knocked out from MAX 8 failures? So don’t think getting rid of Brexit will calm it down….its gotten worse since Brexit is losing steam.

    All of this NWO mess affects Seattle area real estate. All of it.

    Stay tuned, will know more as it unraffles worse…

  20. 1020

    RE: Erik @ 1017
    Drain the Swamp

    LOL….I wore the “Drain the Swamp” tee shirt at the Toastmasters meeting last Thursday ever since I the club told me to just be myself [the red MAGA hat Populist]…they like me much better honest. Vice versa, I like the Open Border Party (OBP) much better too when they appreciate leadership over pig headedness…when you’re phony we all know it and it hurts your case. Just be as kind as you can, but tell ’em truth…

    The Kent City Hall folks loved my tee shirt BTW….LOL….much smiles and nodding of heads…who would know….LOL…I heard a bunch of Bernie Supporters secretly voted Trump in 2016 because they hate the NWO establishment lies so much. NWO now= the smiling face clutching the 7 inch Crocodile Dundee knife….LOL

    The bulls in Seattle real estate and the bears too are in a time of flux now IMO….Hades, if I was asked if top Government Officials in the 2016 Executive Branch behind the “illegal” DNC paid for FISA Dossier” would be indicted soon? Maybe if the legal evidence proves it was a real coup attempt against the Populists? This would be the biggest news story in like 200 years, so anything could happen, anything….and SWE is scratching his head too.

    We’ll learn more, at a theater near you….I know you Open Border Party (OBP) folks hate FOX, but if you want better news on the possible coup attempt against Trump and the economic impacts rippling through the economy, Seattle too..watch FOX or you’ll be behind the power curve of new “real” news.

  21. 1021

    If Ya Don’t Get “Pot” Urine Tested at Your Job and Like Legal 21

    The 4.5-5 star bud is $39/oz for Indica/Sativa hybrids like the strain Gorilla Glue. Stop paying $100-200/oz the bud tenders are ripping you off….its just a mild euphoric drug like caffeine is a mild stimulant drug…Starbucks is making edibles too…

    Check for medical effects of the $39/oz hybrid strains [like sleepy for insomnia] on Leafly websites before ya buy though, hybrid Indica and Sativa strains get all mixed up. The THC % #’s Chemistry Testing raw data are meaningless too, so don’t rely on them.

    Its like buying real estate, be informed or get screwed.

    They hand out medical cards for $10 BTW, anyone can get ’em…use the money you saved for your property tax bill…LOL

  22. 1022
    Deerhawke says:

    Interesting analysis in the NY Times on hourly workers fleeing cities like Seattle. Not a surprising develoment, but well documented and analyzed.

    https://www.nytimes.com/interactive/2019/05/21/business/economy/migration-big-cities.html

  23. 1023
    LessonIsNeverTry says:

    By Erik @ 1011:

    RE: dariakus @ 1008
    I agree, you need to jump on something. I’d buy a house north or south of Seattle right now and live in it 2 years and then sell. That will get you in the game. You gotta be in the game to score.

    RE: Erik @ 1011

    You can also be in the game and lose. In my opinion, living in a home for 2 years and selling is a low success idea because of transaction costs. It feels like survivorship and recency bias. Of course, it doesn’t mean it will be a bad idea! No one knows the future, but here is why the success rate is low. Round numbers and simplifying assumptions included, assuming no repair work besides standard maintenance upon moving into home.

    2 year purchase and sale
    700k home, 10% down, 4.45%
    Mortgage Interest = 54k
    Taxes, Insurance, Maintenance = 25k
    Loan Closing Costs = 10k
    Itemized Ded above Standard Ded for 24%= 6k
    Realtor and Closing = 50k
    Principal = $21k

    After 2 years it cost you 112k to live in that home.
    Renting a 3k a month home cost 72k

    That is a 40k difference. That is a 6% increase in home purchase price over 2 years to breakeven with renting. Now, 6% sounds easy to achieve when you remember returns in recent years. It is about the rate of historical appreciation of US homes.

    However, this ignores two things:

    1. You need to move in somewhere else at the end of 2 years. What do you do? Rent? Then why buy? If you buy again you’ve only just broken even and have to pay all the transaction costs a second time. You can’t get away from them easily. That is at least 10k out of pocket for a new loan and title.

    2. You are exposed to a massive leveraged asset that can decline in price. Even 0% appreciation for two years causes a 40k loss compared to renting. Are you comfortable risking 20k of your annual after tax income on further appreciation? If not you shouldn’t buy.

    On the plus side, if housing appreciates 10% year over year again then this strategy works well. Home value will be 845k and you will make 100k compared to renting. Each person needs to decide for themselves the likelihood of various appreciation possibilities.

  24. 1024
    Erik says:

    RE: LessonIsNeverTry @ 1022
    Honestly, i didn’t read your whole comment and I’ll tell you why. I avoid analysis paralysis. I have a masters degree in engineering and I worked many years in stress analysis, so yeah, I know all about analysis paralysis. All my coworkers suffer from this and are just over broke(job).

    If you’re investment goes bad, you can stop paying your mortgage and live there at least a year for free. I can talk until I’m blue in the face to you as I do to my highly intelligent coworkers, but like you, they find a reason why they shouldn’t do it and they remain working for money. So, I’m going to save us some times and just tell you to do it.

  25. 1025
    JWoods says:

    RE: Deerhawke @ 1021
    Deerhawke, I’m looking at an investment in Ballard and would appreciate your opinion. Is there a way I can PM you to ask a couple of questions?

  26. 1026
    S-Crow says:

    By Erik @ 1023:


    If you’re investment goes bad, you can stop paying your mortgage and live there at least a year for free.

    This is at the essence of speculation and what creates a bubbles. Your comment to just walk away from the gamble of real estate speculation if the “investment” doesn’t work out speaks v-o-l-u-m-e-s.

  27. 1027
    Erik says:

    RE: S-Crow @ 1025
    You are right, that is what causes bubbles. Investors already know this, so I’m just telling others their rights.

    This commenter is too scared to invest. Well, with real estate in Washington state, owners are protected if they try to make it work and fail.

  28. 1028
    Erik says:

    RE: JWoods @ 1024
    After you get his information, pass it my way. I’d love to talk to him too.

  29. 1029
    Coconut says:

    I don’t want to be the one to tell the emperor he has no clothes…but…this site is pretty much ghosting. No updates…what’s happening…I mean at least outsource the updating

  30. 1030
    Deerhawke says:

    RE: JWoods @ 1024

    Sure thing. I have gmail account under this name. Give me a day or so to get back to you.

  31. 1031
    Marc says:

    The latest Case Shiller numbers are out this morning and Seattle’s year over year for the period ending March was 1.6%. But, don’t worry, this is not a trend. Nothing to see here.

    Case Shiller Index

    April 2018 YOY up 13.1%
    May 2018 YOY up 13.6%
    June 2018 YOY up 12.8%
    July 2018 YOY up 12.1%
    Aug. 2018 YOY up 9.6%
    Sept. 2018 YOY up 8.4%
    Oct. 2018 YOY up 7.3%
    Nov. 2018 YOY up 6.3%
    Dec. 2018 YOY up 5.1%
    Jan. 2019 YOY up 4.1%
    Feb. 2019 YOY up 2.8%
    March 2019 YOY up 1.6%

    https://us.spindices.com/indices/real-estate/sp-corelogic-case-shiller-seattle-home-price-nsa-index

  32. 1032

    Ah You Working Bubbleheads’ Three Day Weekend is Over

    They go poof, don’t they. I enjoyed the diversity in blogs and even the fighting was civilized….LOL

    Buy or sell? Hey, even the Seattle Times states nearly half the Milenials want to move out of Seattle because of high prices:

    https://www.seattletimes.com/business/real-estate/nearly-half-of-local-millennials-consider-moving-as-seattle-area-home-costs-soar-again/

    Sorry the Seattle Times is pay per view but subscribe to the ST….its a Seattle Bubble advertiser…

    It is what it is. IMO, we’re talking degreed and experienced higher paid workers [like plumber trainees and garbage men] too….the ones that remain will be basement dwellers “burger flippers”; some with degrees and even some ‘working jobs” homeless without relatives offering rooms and such….these folks are the batch Erik was talking about. Brainless and give ups. Here, I’ll spell it out for ya…”W…O..R…K”…..Socialism freebies and service jobs with nothing to do [almost all of ’em?] are destroying America, as we sink to much lower IQ levels and wages plummet. And I don’t buy the Open Border Party (OBP) philosophy that we must join the poor in the 3rd world and reduce America pay to ease the world’s pain with open borders…Hades, the OBP told me it is impossible to get our manufacturing back anyway and we must accept ultimate defeat as “unavoidable”…at least they were honest…LOL

    Put those assembly pliers and screw drivers away…and start using metal lathes and drill presses…we need to WORK again, ya know “cut metal” again…LOL….its gonna take 5-10 years to teach this lazy bunch in Seattle how to do real manufacturing WORK again…not phony shuffling papers and iPhone staring all day….it is possible, not impossible.

    How about bringing back “Rosie the Riveter” Can Do American spirit instead? Cat got your tongue OBP?

  33. 1033

    RE: softwarengineer @ 1020
    $39/Oz for the Medical Crowd That Like Holistic Cures Instead

    No increased blood pressure, constipation and liver damage like non prescription antihistamines and pain killers [aspirin, Tylonal, Motrim, Benedril, etc, etc…] ….they say it kills pain better than opioids at the hospitals too…

    https://shop.worldofweed.com/tacoma/flower

    Just scroll down for the $39/oz hybrid strains, they’re there…

    Attributes of the strain are located on Leafly by strain name [I used “GG#4” example]:

    https://www.leafly.com/hybrid/original-glue

    Scroll down for attributes and holistic medical uses. Look for “sleepy” to fight insomnia, etc, etc…

    If you’re urine drug tested for pot, urine tests “basically” just test for pot anyway….drink more Black Label and if you turn alcoholic I can give your eulogy at your funeral….LOL….if you’re completely non-prescription drug free you’re weird and unAmerican…LOL

  34. 1034

    RE: softwarengineer @ 1032
    Now What the Hades Did My Previous Pot Post Have to Do With Buying Seattle Real Estate?

    Plenty…the holistic cures making using expensive “prescription” medical alternatives with bad side effects a thing of the past. Pot cures Glaucoma [blindness], seizures, etc, etc….it does not cause Cancer either, buts its no cure for Cancer either…alcohol and Tobacco both cause Cancer…Caffeine and THC don’t…think of the doctor visits $COST$ you’ll save….use the savings on your Property Tax and rent increase bills…

  35. 1035
    S-Crow says:

    RE: Marc @ 1030 – Marc, that is propaganda. Blasphemy. For some it feels a lot worse than 1.6% because of CS reporting via the rear view mirror.

    Lot of folks in denial. Consumer debt loads highest ever. Auto industry having issues.

    My son calls me and had his first tax season at the CPA firm he works at and says “Dad, I’m seeing professional athletes who have made millions and can’t pay the IRS. I have seen other high income people and even doctors whose debt to income ratios are horrible and basically negative networth. ” I said, “kid,welcome to the real world.”

  36. 1036
    Marc says:

    RE: S-Crow @ 1034

    And we haven’t seen a recession in 10 years. What’s gonna happen to real estate prices when that eventuality comes to pass?

    The Fed will immediately drop the overnight funds rate to zero when they can no longer deny the crap has hit the fan. Then in short order QE 4 will be put into motion, I’d guess they’ll start it out around $500B. That won’t be enough so they’ll quickly bump that up to $1.5T to show its serious. Of course, that won’t do the trick either so it’ll go to $4T or so in due course. And at some point they’ll follow Japan and Europe into negative interest rate territory. All the while other central banks will be doing the same.

    It will be fascinating to see if asset markets respond the same way they did the last time around or will they acknowledge that it’s all a giant shell game and pursue some different strategy.

    Probably not because that would require learning a lesson.

  37. 1037
    Marc says:

    RE: Marc @ 1035 – On further thought, the Fed will probably start QE 4 at a much higher level right out of the gate because they know nobody will believe anything under a trillion will do a darn thing or that they’ll really stop there.

  38. 1038

    RE: S-Crow @ 1034
    The Medicare Billing Costs Eat Up Most of the Medical Expenses Now

    Doctors [RNs too] are quitting their jobs in droves….they can’t afford to practice medicine at a loss under Obamacare…Medicare for ALL would make it FAR worse…

    Hades I turned in a Medicare coverage for my son and it took ’em a year to finally “just bill Medicare”; they wanted all of it paid as uninsured $CASH$ instead [even threatened bill collection against my severely disabled son who can’t talk and a “documented” IQ of 40], so refused to bill Medicare. Period. I’m not the only one they did that to in 2018, the care giving centers report to me its chronic “normal” behavior now against all disabled folks…without me threatening legal action, the bills would never get paid [they did get paid though]. This is Multicare folks, not a village idiot clinic either…Hades, I’m smiling now, I wouldn’t want to meet SWE in court either, he’d be a meat grinder to oppose…LOL…

    This is the stuff they don’t dare tell us on TV…but I learn as a Hospital Subcontract Company Volunteer Board Member for Bioengineering. My son shares my Blue Cross plan with me too, they allow this for severely disabled family members under IQ 80. It was his birthday yesterday, he turned 28….I got him electronic toys he loves and chocolate milk [a gallon..LOL] with cakes and restaurant dinner…we drove around in my red Charger..he loves Charger rides…. ;-)

  39. 1039

    RE: Deerhawke @ 1021
    Yes Deerhawke

    The NYTs may be OBP slanted, but they’re not totally stupid either…they’ve also recently stated that a coup attempt against Trump by the DNC leaders could well be the “biggest news story in Centuries”. I’m sure the illegal leaks of that Witch Hunt from DNC politician crooks to the NYTs makes them a possible “accessory” to this theoretical likelyTreason Crime too…

    I was asked recently would they lock the big fish up like Obama and Hillary up for this treason investigation? Durham/Barr [Durham is Barr’s prosecutor now and he’s experienced at throwing the mob leaders in prison, he has a good track record doing it too, look at him , he looks mean as Hell]. If it was a historical “coup” attempt against the Populists’ President, I now say, “maybe”….last week I would have shrugged likely not…

    That’s how fast the paradigm is changing…almost daily. This is BIG folks and it appears likely DNC heads will roll too…it ain’t over until the fat lady sings. This could be a BIG shakeup to the NWO “Boeing/Microsoft/Amazon trenches in Seattle and sanctuary city policies looked at in a brand new light. IOWS wages could sky-rocket in Seattle with more domestic manufacturing and less NWO. That’s got to increase real estate prices long-term, good news for guys like Erik and Deerhawke.

  40. 1040
    Joe says:

    RE: Erik @ 972

    If you bothered to settle down emotionally, you’d realize that my posts about Woodinville open houses being dead reflect a first hand experience. Everything I said was factual about the open houses. If this conflicts with your understanding of the market, maybe you should go see a few of them and confirm what I’ve posted.

    Take a deep breath and ask yourself why your posts have increased 10x this month. In the back of your mind, you know something’s wrong with this RE market that is trending lower, based on hard facts.

  41. 1041
    formerSeattleite says:

    RE: Coconut @ 1028

    lol. That comment made me chuckle.

  42. 1042
    BacktoBasics says:

    RE: softwarengineer @ 1037

    Move to EU, even if you pay out-of pocket, health care cost is way affordable than in the USA. Sorry RN, MD, you are are charging us too much.

  43. 1043
  44. 1044
    David says:

    RE: N @ 1042 – As a lawyer, I hope this prevails (also I wish they would go after the American Bar Association, yet I digress). The reasons:

    1) NWMLS forces sellers to price their properties at a low amount or face a 90-day rule about canceling and delisting the property. This is intended to supposedly prevent agents from various manipulations, but in reality, it punishes the homeowner. Their logic point-blank admits that their service empowers agents.

    Yet it simultaneously creates built-in punishment for sellers.

    Imagine if car dealerships were required to ‘list’ their vehicles on a proprietary service that forces them to track price increases and decreases and days on market. Would that be a free market? Nope. Would that interfere in the free market? Yep.

    What should the seller then actually be required to do to sell their house (or car)? Absolutely nothing other than being willing to sell their property.

    2) It creates an artificial market that allows agents to conspire for higher fees. Why Earth should anyone be allowed to take 6% of your life savings for walking through a house? What a scam. Wall Street would love a scheme like that. BUT WAIT, even Berkshire Hathaway has gotten in on this – you know Buffett understands the logic of money that requires no capital outlays. Just walk through someone else’s capital outlay and you magically put 6% into play.

    By analogy, imagine you come across someone else’s Golden Retriever on the street. You pick up that Golden Retriever and shake it. Out falls tens of thousands of dollars in gold coins. And now they are yours because you shook their Golden Retriever. Surely the owner would have found the gold anyway because it was his ‘good boy’. Now the shakers conspire with the people who buy gold so that the gold buyers will only do business with the shakers.

    And the gold buyers and shakers pay you less the longer you wait.

    There you have it.

  45. 1045
    Erik says:

    RE: Coconut @ 1028
    Us parasites need a new host now that Tim has left.

  46. 1046
    David says:

    By Marc @ 1030:

    The latest Case Shiller numbers are out this morning and Seattle’s year over year for the period ending March was 1.6%. But, don’t worry, this is not a trend. Nothing to see here.

    Case Shiller Index

    April 2018 YOY up 13.1%
    May 2018 YOY up 13.6%
    June 2018 YOY up 12.8%
    July 2018 YOY up 12.1%
    Aug. 2018 YOY up 9.6%
    Sept. 2018 YOY up 8.4%
    Oct. 2018 YOY up 7.3%
    Nov. 2018 YOY up 6.3%
    Dec. 2018 YOY up 5.1%
    Jan. 2019 YOY up 4.1%
    Feb. 2019 YOY up 2.8%
    March 2019 YOY up 1.6%

    https://us.spindices.com/indices/real-estate/sp-corelogic-case-shiller-seattle-home-price-nsa-index

    This coincides with interest rate increases. Interest rates (and local taxes) have both increased. The time to buy (and sell) is in the shoulder season right after the Fed lowers rates and pent up demand increases because the economy begins to improve. I say buy because the banks are hard-pressed to lend in a down economy. And most buyers won’t buy when the market is down because they think it will go lower. (Assuming builders have not overbuilt in the interim – and builders have even gone out of business would be better.)

    However, the California-style tax policies in Seattle will never go away now.

    https://www.thebalance.com/fed-funds-rate-history-highs-lows-3306135

  47. 1047
    Erik says:

    RE: Joe @ 1039
    I guess it could be. Hopefully we just stay flat. I think it’s the lack of foreign investment from Asia because of these trade wars causing our real estate prices to go flat.

  48. 1048
    Erik says:

    RE: David @ 1045
    Very interesting. I don’t see the data you posted on your link though.

  49. 1049
    formerSeattleite says:

    RE: David @ 1043

    I don’t know as much about real estate and real estate transactions as many users on here, nor have I owned a home (yet) myself, but dang! If the US prevails, this will have huge ripple effects in the real estate industry. We’re about to see a nasty backlash from real esate agents. This will/could potentially affect their livelihood.

    I can’t wait to see where this [case] goes.

  50. 1050
    dariakus says:

    By Erik @ 1026:

    RE: S-Crow @ 1025
    You are right, that is what causes bubbles. Investors already know this, so I’m just telling others their rights.

    This commenter is too scared to invest. Well, with real estate in Washington state, owners are protected if they try to make it work and fail.

    I heard the same arguments in Florida in 2006-2007. That it had nowhere to go but up, that if I planned to stay then or more years it would always be positive.

    The house we bought in 2006 is STILL not back to the price we paid for it, 13 years later. We ended up having to walk away as my job transferred me out of state and renting it out was impossible. That black mark is gone from my credit now but housing prices have skyrocketed past my ability to save a down payment in at this point. No matter how fast I save the price goes up and up. I’ve gotten burned by this phenomenon before, and I’m hesitant to put my hand back on that stove again.

  51. 1051
    disasteraverted says:

    By dariakus @ 1049:

    The house we bought in 2006 is STILL not back to the price we paid for it, 13 years later. We ended up having to walk away as my job transferred me out of state and renting it out was impossible. That black mark is gone from my credit now but housing prices have skyrocketed past my ability to save a down payment in at this point. No matter how fast I save the price goes up and up. I’ve gotten burned by this phenomenon before, and I’m hesitant to put my hand back on that stove again.

    Amen! We also bought two properties in 2006 (my wife and I, when we were both single) and they just recovered to 2006 prices these last two years. We sold one in 2016, and after commissions/excise, it was a loss.

  52. 1052
    Deerhawke says:

    RE: dariakus @ 1049

    Dariakus, right now you have below-market rent in an area you like with good schools for your kids. Max out your 401k, save as much as you can, live simply, retire early, and then buy a house if, when and where you like.

    Instead of spending your time on real estate blogs, spend your time on http://www.bogleheads.org or some of the FIRE (financial independence retire early) blogs.

    Why are you re-thinking your plan?

  53. 1053

    More Max 8 Safety Problems

    Now its foreign object debris (FOD) and sensor malfunctions too?

    https://interestingengineering.com/boeing-whistleblowers-report-more-737-max-8-problems-to-faa

    The 787 Dreamliner has FOD safety problems too the South Carolina Boeing workers report. The company is running on green engineers and shooting from the hip inexperienced management…they outsourced the real work to Japan…its gonna take 5-10 years to retrain American based FAA management experience and engineering know-how. IMO, the company is already doomed? The FAA was already phony under this outsourced condition.

    Its getting worse Bubbleheads…

  54. 1054
    dariakus says:

    By Deerhawke @ 1050:

    RE: dariakus @ 1049

    Dariakus, right now you have below-market rent in an area you like with good schools for your kids. Max out your 401k, save as much as you can, live simply, retire early, and then buy a house if, when and where you like.

    Instead of spending your time on real estate blogs, spend your time on http://www.bogleheads.org or some of the FIRE (financial independence retire early) blogs.

    Why are you re-thinking your plan?

    Oh that’s my plan for sure. Not rethinking it. Just explaining why I’m not jumping back in.

  55. 1055

    RE: BacktoBasics @ 1041
    I Hear the Canadians Have Universal Health Care Too

    And they head to America in GROVES with $CASH$ for retail prices when they don’t want to wait months in line for a checkup…

    EU would come here too if it wasn’t so far…

    Imagine the Medicare for All lines….just like Disneyland ride lines…LOL. The park closes before ya see the doctor…LOL

  56. 1056

    RE: Erik @ 1046
    Yeah Erik

    When China had a trade war with America they were rich, now we want that war ended after decades of American subsidies to China. If Chinese are getting poorer, so what? They did it to themselves with greed.

  57. 1057

    Oracle to Lay Off 700 Big Incomes This Year in Seattle

    https://www.geekwire.com/2019/report-oracle-lays-off-hundreds-seattle-office-cloud-strategy-remains-grounded/

    Most were green engineers and inexperienced management at each others’ throats:

    https://www.bizjournals.com/sanjose/news/2019/05/28/oracle-cloud-layoffs-orcl-amzn-msft.html

    These Microsoft lay offs in addition to the 18,000 recently butcher axed in 2014…like my neighbor, last I heard he was teleworking for Starbucks, but that sucks too….he lost his years of retirement investments at one company….his wife quick home schooling and is working P/T now raising 3 kids…

    The fun goes on and on, Amazon in 2018 butcher axing all its high paid Seattle workers in downtown Seattle?

    https://q13fox.com/2018/02/12/report-amazon-laying-off-hundreds-of-corporate-employees-in-seattle/

    Nothing in the news to reset “high skill corporate worker” 2018 layoffs at Amazon either…all that’s left is $13/hr ware house workers in Seattle now??? Correct me if I’m wrong, but please provide URL dated proof.

    http://blogs.seattletimes.com/microsoftpri0/2014/07/17/microsoft-laying-off-18000-over-next-year-1351-in-puget-sound-area-affected/

  58. 1058
    Blake says:

    Warning… WARNING!!! (Flashing red indicator)
    https://www.bloomberg.com/news/articles/2019-05-28/key-slice-of-u-s-yield-curve-dives-further-into-inversion-zone

    A key slice of the Treasuries yield curve became the most inverted since 2007, as growing angst over trade friction is overshadowing expectations that the Federal Reserve will cut interest rates by year-end.

    The gap between three-month and 10-year rates dipped Wednesday to negative 12.3 basis points, breaking past a March level, when it first reached levels last seen in the global financial crisis. The spreads between most other sectors of the curve have narrowed as well. Historically, an inverted curve has been a signal that a recession is looming.
    (end quote)

    Hmmm… I can’t recall exactly waht happened way back in 2007 and after…???

  59. 1059
    Blake says:

    By softwarengineers @ 1054:

    RE: Erik @ 1046
    Yeah Erik

    When China had a trade war with America they were rich, now we want that war ended after decades of American subsidies to China. If Chinese are getting poorer, so what? They did it to themselves with greed.

    LMFAO… Do you know ANYTHING about Chinese history? Last week Chinese Premier Xi went to Jiangxi, the location where Mao’s Red Army started their “Long March” in 1934. Xi called for a “New Long March” and the Chinese people are willing to endure true hardships (unlike Americans) rather than capitulate to the imperial demands of the US.

    After the 19th century Opium Wars, China endured what they refer to as a Century of Humiliation after signing “a series of infamous unequal treaties, ceding numerous ports, trade access, territorial rights and legal extraterritoriality to foreigners.” Trump’s demands for capitulation has unleashed fierce nationalism and the Chinese are digging in…

    Trump is running the Chinese, US and world economies into the ground! As his hand-picked Secretary of State said: He is a “f*cking moron!” I am glad actually because the looming recession will make it very unlikely he will be re-elected! :-)

    https://www.latimes.com/world/la-fg-china-trade-war-tariffs-colonialism-humiliation-20190513-story.html
    Li learned this place’s history as a child. The Qing Dynasty called it Yuanmingyuan, “Garden of Eternal Brightness,” a sprawling “garden of gardens” famed for its architecture, art and imperial landscaping.

    In 1860, British and French troops ravaged the palace, looting, then burning it to the ground as part of the Second Opium War — a war fought over Western forces’ demand for better trade terms and access to Chinese markets.

    As the U.S.-China trade war escalates, many Chinese are recalling a state-sponsored narrative of China’s “century of humiliation,” when a weakening imperial China fell prey to Western and Japanese colonialism during the 19th and 20th centuries.

    On Friday, the U.S. increased tariffs on $200 billion of Chinese goods. On Monday, China announced it would raise tariffs on $60 billion of American goods in return.

    Liu He, China’s vice premier and chief negotiator in the trade talks, told state media that China’s demands are a removal of U.S. tariffs, better terms of procurement, and “balanced text” in the trade agreement.

    “The text must be balanced and expressed in terms that are acceptable to the Chinese people and do not undermine the sovereignty and dignity of the country,” wrote the People’s Daily, a state mouthpiece, over the weekend.

    The insistence on balance comes from an idea that each of China’s 1.4 billion people memorize in school and then ingest from state propaganda: Wu wang guo chi, especially in the form of “unequal treaties.”

    Modern Chinese history taught in schools begins with the Opium Wars, when Britain smuggled opium into China to make up for its trade deficit.

    China resisted, leading to war, and China then signed a series of infamous unequal treaties, ceding numerous ports, trade access, territorial rights and legal extraterritoriality to foreigners.

    “We used to be so behind. Everything was destroyed by those invaders,” Li said. Visiting the ruins made her thankful for how strong China had since become, she said.

  60. 1060
    richard says:

    RE: softwarengineers @ 1054
    it is not about patriotism. It is about praying Chinese money inflow to sustain current price level. It is greed and patriotism is secondary. sad :(

  61. 1061
    N says:

    I’ve been moderately bearish the past few years and now that the market normalized began getting more serious about buying a house. Even found a few places that fit what we wanted and was close to putting in offers.

    One of them had a 100k price reduction and then sold for $135k less than original list. In the past few weeks the handful of properties I’ve been watching closely, including one I really like but is priced high IMO, just aren’t moving at all, with many doing further price reduction.

    It’s really feeling like August or September, not late May. I had finally gotten comfortable with purchasing but am wondering what is going on in this market. It may be just the properties and price points I am watching but…. This is in West Seattle and mostly priced $600-800k.

    In the townhouse space I’ve seen one or two where the owner purchased in 2015 and they are going to loose money selling in 2019.

  62. 1062
    richard says:

    RE: Blake @ 1056 – The elite classes of China and US will do just fine. The lower class of China and US are getting screwed hard. Isn’t it ironical that rich Chinese are pricing out normal American in housing market here and our elected officials turn their eyes the other way? Maybe there is some sort of conflict between the two countries, but what I see is extreme wealth inequality between rich and average joe and insatiable greed.

  63. 1063
    richard says:

    RE: N @ 1058 – In the townhouse space I’ve seen one or two where the owner purchased in 2015 and they are going to loose money selling in 2019.

    if they bought 2015, how is it possible for them to lose money? In the last 4 years, the price almost doubled.

  64. 1064
    uwp says:

    By N @ 1058:

    In the townhouse space I’ve seen one or two where the owner purchased in 2015 and they are going to loose money selling in 2019.

    Link?

  65. 1065
    N says:

    Sorry, I can’t find the link. I wasn’t trying to exaggerate but maybe I misread. Regardless, if true, it’s certainly not the norm. But all of a sudden there are plenty of 1,500ft+ townhomes at $600k or below, a year ago there were pretty much zero. The town homes wasn’t really the point of my post though.

    A different one – Sold in 2016 at $493k / Sold in 2019 at $557k (~$506k after fees).
    https://www.redfin.com/WA/Seattle/6065-California-Ave-SW-98136/home/40265089

  66. 1066
    David says:

    By Blake @ 1056:

    By softwarengineers @ 1054:

    RE: Erik @ 1046
    Yeah Erik

    When China had a trade war with America they were rich, now we want that war ended after decades of American subsidies to China. If Chinese are getting poorer, so what? They did it to themselves with greed.

    LMFAO… Do you know ANYTHING about Chinese history? Last week Chinese Premier Xi went to Jiangxi, the location where Mao’s Red Army started their “Long March” in 1934. Xi called for a “New Long March” and the Chinese people are willing to endure true hardships (unlike Americans) rather than capitulate to the imperial demands of the US.

    After the 19th century Opium Wars, China endured what they refer to as a Century of Humiliation after signing “a series of infamous unequal treaties, ceding numerous ports, trade access, territorial rights and legal extraterritoriality to foreigners.” Trump’s demands for capitulation has unleashed fierce nationalism and the Chinese are digging in…

    Trump is running the Chinese, US and world economies into the ground! As his hand-picked Secretary of State said: He is a “f*cking moron!” I am glad actually because the looming recession will make it very unlikely he will be re-elected! :-)

    https://www.latimes.com/world/la-fg-china-trade-war-tariffs-colonialism-humiliation-20190513-story.html
    Li learned this place’s history as a child. The Qing Dynasty called it Yuanmingyuan, “Garden of Eternal Brightness,” a sprawling “garden of gardens” famed for its architecture, art and imperial landscaping.

    In 1860, British and French troops ravaged the palace, looting, then burning it to the ground as part of the Second Opium War — a war fought over Western forces’ demand for better trade terms and access to Chinese markets.

    As the U.S.-China trade war escalates, many Chinese are recalling a state-sponsored narrative of China’s “century of humiliation,” when a weakening imperial China fell prey to Western and Japanese colonialism during the 19th and 20th centuries.

    On Friday, the U.S. increased tariffs on $200 billion of Chinese goods. On Monday, China announced it would raise tariffs on $60 billion of American goods in return.

    Liu He, China’s vice premier and chief negotiator in the trade talks, told state media that China’s demands are a removal of U.S. tariffs, better terms of procurement, and “balanced text” in the trade agreement.

    “The text must be balanced and expressed in terms that are acceptable to the Chinese people and do not undermine the sovereignty and dignity of the country,” wrote the People’s Daily, a state mouthpiece, over the weekend.

    The insistence on balance comes from an idea that each of China’s 1.4 billion people memorize in school and then ingest from state propaganda: Wu wang guo chi, especially in the form of “unequal treaties.”

    Modern Chinese history taught in schools begins with the Opium Wars, when Britain smuggled opium into China to make up for its trade deficit.

    China resisted, leading to war, and China then signed a series of infamous unequal treaties, ceding numerous ports, trade access, territorial rights and legal extraterritoriality to foreigners.

    “We used to be so behind. Everything was destroyed by those invaders,” Li said. Visiting the ruins made her thankful for how strong China had since become, she said.

    Trump should slap 200% tariffs on Chinese anything. The stock market is overreacting to the situation as China’s goods can be replaced elsewhere fairly easily.

    I sold my Chinese factory holdings to a Chinese investment firm a little over 2 years ago and retain a VERY small percentage of ownership. I was ready to get out of China.

    I am well aware that most money sent to ANY foreign country is usually “disappeared” eventually (per historical analysis). It will be curious to see if these Chinese nationals buying houses suffer the same fate. After all, the historic return on housing is 0%. Local governments have become shrewd at sucking the marrow out of the homeowner. (Look at Seattle as a baseline. They talk all progressive but that really means screwing you.)

  67. 1067
    David says:

    By dariakus @ 1049:

    By Erik @ 1026:

    RE: S-Crow @ 1025
    You are right, that is what causes bubbles. Investors already know this, so I’m just telling others their rights.

    This commenter is too scared to invest. Well, with real estate in Washington state, owners are protected if they try to make it work and fail.

    I heard the same arguments in Florida in 2006-2007. That it had nowhere to go but up, that if I planned to stay then or more years it would always be positive.

    The house we bought in 2006 is STILL not back to the price we paid for it, 13 years later. We ended up having to walk away as my job transferred me out of state and renting it out was impossible. That black mark is gone from my credit now but housing prices have skyrocketed past my ability to save a down payment in at this point. No matter how fast I save the price goes up and up. I’ve gotten burned by this phenomenon before, and I’m hesitant to put my hand back on that stove again.

    I just spent 6 months in Florida in my RV looking at property. Where in the world did you have central Florida property that has gone down? You must have sold in the Depression we had because prices are way up down there now.

  68. 1068
    David says:

    RE: dariakus @ 1049 – I also do not see how Tacoma is the hottest market in the country when you actually see the housing under construction in Central Florida. I think those numbers lie.

  69. 1069
    dariakus says:

    We bought at 229k in June of 2006. As of today the house is valued at 225k. Checked as of about five minutes ago.

  70. 1070
    Erik says:

    RE: dariakus @ 1049
    I stopped caring and started buying and got lucky. I’ve always been a dare devil though. I’m just not that scared of failing.

    I can tell you Deerhawk is wayyy smarter than me with investing, so you should listen to him.

  71. 1071
    Erik says:

    RE: richard @ 1060
    In West Seattle?

  72. 1072
    Paulie says:

    This website is dead.

  73. 1073
    Erik says:

    RE: Blake @ 1056
    Don’t you think it makes a good case to bring manufacturing back to America? I would prefer that anyways. China depends more on us than we do on them.

  74. 1074
    kenmorem says:

    the justme’s of this site must’ve contacted their local mike o’briens to get this thing on the docket:
    https://www.seattletimes.com/seattle-news/politics/new-ban-on-mcmansions-would-dramatically-change-seattles-house-building-rules

  75. 1075
    Justme says:

    RE: kenmorem @ 1070

    Nice job, kenmorem!! You managed to completely misrepresent me by conflating my work with an unpopular proposal by Seattle councilman Mike O’Brien. Please don’t come back and ask my opinion.

    Next I might be blamed for stealing candy from the mouth of poor developers or the homeless, maybe even both groups?

    I guess the Seattle bubble busting is getting your goat so badly that you’ll do anything to try and tar and label me with something?

  76. 1076

    RE: Joe @ 1039
    Dead Listed Homes

    Have two problems mainly:

    Crummy locations.
    High price.

    Lower the price, you can’t change the location.

  77. 1077

    RE: Justme @ 1071
    LOL Justme

    The news is unsettling lately, I need a break from it too….today is Toastmasters Day, we’re electing new officers next month. I volunteered as Sergeant of Arms.

    Ya know, I betcha 95% of the Open Border Party are sure the Mueller Final Report cleared Trump of Collusion and Obstruction; but won’t admit it because they encourage the lies…they think its impossible to create Manufacturing in Seattle again and we should just give up. Period. I know, I asked ’em…they see a resurgence in manufacturing as hopeless. Period. Open up the border gates and let ’em in in droves…what difference does it make to loser mentality.

    They plan on the world deteriorating with no jobs and 3rd world poverty in Seattle with crashed real estate prices as inevitable, I know I asked ’em…they’re lazy give-ups in my book. I worked hard all my life and they should too….anything is possible to the possibility thinker. Hades, we made everything in our homes in the 60s and 70s with about half the current population, with mostly one income too and still had time for a family car vacations to Disneyland. We’ve become lazy and stupid in comparison, its embarrassing.

  78. 1078

    RE: Erik @ 1069
    China Plans War With America

    https://freebeacon.com/national-security/chinese-video-urges-war-with-u-s/

    These are Boeing/Microsoft/Amazon business partners to share all of our IT methods,U of W laser technology and Boeing aerospace intellectual property secrets with? A country we should be buying key electronics parts/materials from for our military too?

    Yes, our IQs have plummeted if we believe this garbage. Chinese Overlords do not offer freedom; they offer gloom, OVERPOPULATION and environmental/war destructions…but please make sure to buy more Lithium batteries from ’em…LOL

  79. 1079

    RE: softwarengineer @ 1074
    Chinese Rare Earth Materials Makes IPhones Possible Alleges Apple

    Without China, companies like Apple are screwed?

    https://www.yahoo.com/finance/m/420dde63-8728-333c-bb27-6491f054e044/companies-like-apple-that.html

    Microsoft and Boeing too? I also read that iPhone rare earth materials are available from California but their State government bans the mining as ecological damaging, whatever that means…

    The low IQ are running this country folks.

  80. 1080

    RE: Blake @ 1055
    I Saw That News Too

    I also read the Fed Chairman is planning interest rates hikes for a booming economy in 2019….CONFLICTION.

    That’s why i didn’t reference it. Mixed signals.

  81. 1081

    RE: Blake @ 1056
    That’s Why They Can’t Invent and Innovate Without an IQ

    Stealing our technology isn’t smart its stupid. The Chinese think earthquake prevention science is watching animal behavior [snakes crawling into rocks, etc] not tracking historical deviations on a Richter Scale sensor and analyzing for future prediction data like we do, etc, etc….

    Its not Racist to say this either. Compare our space programs technology, or should I say my dad’s space programs….LOL

  82. 1082

    After They Fire This Boeing CEO Over the Max 8

    Would SWE want that job? Hades no…I can do much better whistle blower work retired and separate income from that “Japanese Run Boeing Beast” company…BTW, Japanese engineers make much higher salaries than American engineers…so can afford the insanely high premiums on universal health care in Japan….

    https://www.cbsnews.com/news/boeing-ceo-dennis-muilenburg-says-he-would-put-his-family-737-max-without-any-hesitation-exclusive-2019-05-29/

  83. 1083

    RE: Erik @ 1069
    Your Son Needs a Good Job Too Erik

    A lot of the Open Border Party are DINKs…Double Incomes No Kids…they don’t care?

    My family had 2.0 kids [depopulation]….my daughter fears Autism gene possible with child…no grand kids there…most Special Needs siblings are child less for the same reason too. American birthrate is 1.7 [depopulation], why is this bad?

    It is what it is.

  84. 1084
    richard says:

    RE: softwarengineer @ 1076 – no way FED will raise rates…it will not raise rate in five year according to bond king Jeff Gundlach. The market already priced in rate cut.

  85. 1085
    JustNoise says:

    So many price decreases this week. Keep ’em coming!

  86. 1086
    sfrz says:

    RE: JustNoise @ 1081 – They are falling like turds in a well. My inbox is blowing up.

  87. 1087
    Any says:

    RE: JustNoise @ 1081

    A lot, but for now most are just token drops by the sellers, at least for sub million $ places. Houses selling for 850k dropping their prices by 10k. Example: Somebody bought a house in Woodinville July 2016 for 675k. 2007 build but the house has already changed owners two times prior. These 2016 buyers were trying to sell for 855k, “dropped” the price today to 847k.

    So many people seem to think its their right to make 100k+ off a house they’ve lived in for the last couple years only. Of course they should go for it if the market allows it, but at some point you have to admit to yourself where the market is and realize a 10k price drop is doing absolutely nothing. I’m not even thinking for one second about helping somebody like this make money off me…I’ll take my chances and see if the falling price trend picks up speed.

    More significant price drops will start coming end of summer / fall if things keep heading in this direction. Waiting it out…

  88. 1088
    N says:

    @Any 1083 – Many price drops are small, some from motivated sellers are more significant. But as we saw last fall and winter, a decent number of homes are selling far below the last list price. Difficult market to price homes in.

  89. 1089
    JustNoise says:

    RE: N @ 1084RE: Any @ 1083 – I’m seeing a mixture of high and low price drops. $10-50K drops in price range from $500-800K. On a couple of the $1M+ homes I track, have seen prices drop as much as ~35%. Many of the smaller prices drops are from properties that already have 2 or 3 price drops behind them. Anyway, point is, this week I’ve seen the most price drops since I’ve been tracking homes. Also waiting it out, Any.

  90. 1090
    Armk says:

    RE: JustNoise @ 1085

    Agreed with you all. I’ve had my eye on about 6 places I thought would go within a week of listing (priced attractively) and only one has gone so far. Feels like things have changed for the worse in May, perhaps concerns over the trade war etc. Honestly very surprised as I thought lower mortgage rates would have kicked the market back into gear. But reasonably priced stuff is just sitting and overpriced stuff is taking cuts.

    Maybe this is just as a weird patch in the week following Memorial Day. We’ll see.

  91. 1091
    Erik says:

    RE: softwarengineer @ 1079
    My son is gonna be a long shoreman and invest in real estate.

  92. 1092
    QA Observer says:

    Buy now, or be priced out forever! LMAO

  93. 1093
    David says:

    I imagine a lot of the slowdown in Seattle is due to Boeing being in limbo with the 787 MAX and Amazon trying to bail on Seattle. Thus creating a lot of uncertainty for people there wanting to buy.

    I have not heard that Amazon has given up looking outside of Seattle for expanding away from the metro area. Seattle’s California-style political mentality has not changed – and I, therefore, see no reason for Amazon to have changed direction.

  94. 1094
    uwp says:

    By Armk @ 1086:

    Feels like things have changed for the worse in May, perhaps concerns over the trade war etc. Honestly very surprised as I thought lower mortgage rates would have kicked the market back into gear. But reasonably priced stuff is just sitting and overpriced stuff is taking cuts.

    Maybe this is just as a weird patch in the week following Memorial Day. We’ll see.

    Strange that the inventory sidebar isn’t showing a heavy inventory build.

    Inventory Growth for Friday pre-Memorial day to the Friday after (9am-9am):
    2017: SFH +203 +10%
    2018: SFH +184 +7%
    2019: SFH -11 -0%

    Looking at all of May, I looked at the growth from the last Friday in April through the Friday 5 weeks later (9am-9am):
    2017: SFH +502 +33%
    2018: SFH +683 +28%
    2019: SFH +273 +7%

    Of course, this is just the raw data. We’ll have a better idea of how May went when we get the NWMLS stats next week.

  95. 1095
    N says:

    Good to keep in mind this is not just a Seattle slowdown. Story line sounds exactly the same.

    https://www.mercurynews.com/2019/05/30/bay-area-housing-slump-home-sales-drop-prices-turn-flat/

    “This isn’t really surprising,” said Kevin Swartz, a real estate agent with Sereno Group. “This is what I’m seeing on the local level, which is Sunnyvale and the surrounding cities. Last year, prices went up so high and the buyers took a step back because it just wasn’t affordable.”

  96. 1096
    N says:

    I don’t find it strange that inventory isn’t rising like it did last year. Remember, the change in this market has had little to do with rising new inventory as the number of NEW listings has not increased much, rather the demand has dropped, leading to higher supply.

  97. 1097

    YOY Impact on MOM Stock degradation Can Make Interest Rates Change in a Flash?

    We’ll see that data in a few days. I’m still a bull on interest rates going up in 2020 and even in 2019, the new data will help solidify either viewpoint on interest rate flux. the news is MOM centered and less reliable but a good indicator of perhaps trending…

    Another reason for higher interest rates now in 2019 are cars assembled in Mexico:

    https://www.autoguide.com/auto-news/2015/04/which-cars-are-made-in-mexico.html

    Toyota has delayed their huge Mexican plant until 2020. Infiniti and Audi, etc,etc… as well as most Japanese engineered brands come from Mexico. The Fiat 500 and Chevy Cruz too…LOL…”it all floats down stream”, from Stephen King’s It…

    The Dodge Journey [Jeep Compass too] too….25% more by Fall??

    Time to switch brands? LOL

  98. 1098

    RE: softwarengineer @ 1093

    Mexican BMWs Too?

    LOL…you bet, even the “Bring Mass Wads” of Money brands, like Lincolns too…

  99. 1099
    Lulu says:

    RE: David @ 1089RE: David @ 1089
    It’s 737 Max not 787. It is built in Renton not Seattle. Amazon move to Bellevue which is just 5 miles away across the lake. What impact? Seattle has long gone with manufacturing.

  100. 1100

    RE: softwarengineer @ 1094
    Mexico Appears Richer Than America Now On Paper?

    LOL

  101. 1101
    uwp says:

    By N @ 1092:

    I don’t find it strange that inventory isn’t rising like it did last year. Remember, the change in this market has had little to do with rising new inventory as the number of NEW listings has not increased much, rather the demand has dropped, leading to higher supply.

    I was promised Sellers Rushing for the Exits™ – Also a BLOCKBUSTER Memorial weekend.

    :(

    And all I got was this lousy “Bezo’s Balls” t-shirt.

  102. 1102

    New AMZ Bellevue Jobs Have Salaries Posted at $14-35/hr, with no numbers to back up avg paid hired for 2019…its anyone’s guess until they show it to us in writing….

    Ask a Seattle AMZ employee going to Bellevue on avg pay…that’s a good source..

    Fancy new offices don’t mean high pay.

  103. 1103

    RE: Erik @ 1087
    Great Idea

    He’ll get a pension there.

  104. 1104
    Blake says:

    By softwarengineer @ 1096:

    RE: softwarengineer @ 1094
    Mexico Appears Richer Than America Now On Paper?

    LOL

    WTF? Are you smoking crack or something?

  105. 1105
    Lulu says:

    RE: softwarengineer @ 1098
    That’s great. My plumber is charging me $450 per visit. What those earning $15/hr would think?
    Anyway, no matter how much you make per hr, you still need a place to live.

  106. 1106

    RE: Blake @ 1100
    Larger Space Rent is Like $250/mo in Mexico City Too

    So Mexico’s lower pay is irrelevant. Why do you think the American retirees are flocking to rich Mexico [Central America too]? In Japan the engineers make HUGE salaries [with their government’s universal health care too] , so does EU engineers; these foreign counties make American engineers look like janitor pay in comparison….its not just pay that makes you rich, its Cost of Living comparisons. But the NWO uses cheap labor….LOL

    You’ve been brainwashed…now Venezuela is a different story, they have no $CASH$ for food. Period. Communist Central America and Cuba do…

    You’d compare Seattle to Kansas City too?….LOL….I’m rolling on the ground in laughter now…

  107. 1107

    RE: Lulu @ 1101
    Yes LuLu

    Plumbing training beats a college education hands down and they’re screaming for plumbers right now. Other lucrative jobs are garbage collectors…what are they $25-45/hr…LOL….beats AMZ pay.

  108. 1108

    RE: Lulu @ 1101
    I Was Talking to My Grounds Keeper [lawn mower] a Few days Ago

    I told him his landscaping work at my HOA is better pay than AMZ and still these workers can’t afford a $250K home at Glenbrook. He agreed.

  109. 1109
    Blake says:

    By softwarengineer @ 1102:

    RE: Blake @ 1100
    Larger Space Rent is Like $250/mo in Mexico City Too

    So Mexico’s lower pay is irrelevant. Why do you think the American retirees are flocking to rich Mexico [Central America too]? In Japan the engineers make HUGE salaries [with their government’s universal health care too] , so does EU engineers; these foreign counties make American engineers look like janitor pay in comparison….its not just pay that makes you rich, its Cost of Living comparisons. But the NWO uses cheap labor….LOL

    You’ve been brainwashed…now Venezuela is a different story, they have no $CASH$ for food. Period. Communist Central America and Cuba do…

    You’d compare Seattle to Kansas City too?….LOL….I’m rolling on the ground in laughter now…

    More incomprehensible gibberish from you. You wrote: “Mexico Appears Richer Than America Now On Paper?” I don’t think you even understand what you wrote…
    You should post less… please.

    Unfortunately your arrogance and your ignorance are closely related… clinically:
    https://www.sciencedirect.com/science/article/pii/B9780123855220000056
    … and there are millions of people like you.

    “As democracy is perfected, the office of president represents, more and more closely, the inner soul of the people. On some great and glorious day the plain folks of the land will reach their heart’s desire at last and the White House will be adorned by a downright moron.”
    ― H.L. Mencken, On Politics: A Carnival of Buncombe

  110. 1110

    RE: Blake @ 1105
    Hey Blake

    Where’s your raw data to back up do nothing about Mexico treating us badly? In your Mother Goose fairy book? I know the tooth fairy told you….LOL

    Mexico City Rent is about $250/mo in the subburbs…with $640/mo avg monthly net pay after taxes. the May 2019 exchange rate for peso is 19.05 dollars….these are realtor numbers, so they’re too high in my opinion. The locals can find much better rent deals I imagine…I had a friend from Mexico and he became a general manager at a VW plant; he told me if I came to Mexico go with him [a local] and he could find “much better” half price deals not offered to Americans generally.

    https://www.numbeo.com/cost-of-living/in/Mexico-City

    Mexicans are richer than us because they have more manufacturing jobs than we do now…

    Do you like your crow with or without mayonnaise?

  111. 1111

    RE: softwarengineer @ 1093
    More Gibberish Truth to Infuriate Blake?

    https://www.wsj.com/articles/u-s-inflation-picked-up-in-april-11559308420

    Hey….interest rates could go up or down in 2019, but one thing’s for certain….

    Oil prices are plummeting to like $53/bbl today, down from the mid 60s….cheaper gas for my Charger!

    LOL…MAGA!

  112. 1112

    RE: softwarengineer @ 1107
    YTD DOW Stock Values are Still up 5+%

    Beats crummy 0% Money Market interest hands down…

    YOY American stock values will be presented next week.

  113. 1113
    Maryann says:

    RE: Blake @ 1105
    Yes to everything you said! Including SWE finding something else to do with his time.
    The quote by Mencken is golden!

  114. 1114
    David says:

    By softwarengineer @ 1108:

    RE: softwarengineer @ 1107
    YTD DOW Stock Values are Still up 5+%

    Beats crummy 0% Money Market interest hands down…

    YOY American stock values will be presented next week.

    You can get better than 2.2% with Marcus by Goldman.

  115. 1115
    S-Crow says:

    Current Sales for May 2019 Sno County: currently running about 10% under 2018 May YOY. We have about 3 hours left of recordings to go.

    The sales trending down this Spring appears to have legs. In part, thanks to rates around 3.75% 30 yr fixed at about a half point or so.

    I’m seeing a bunch of new listings in the upper price ranges and over $1M in Sno Co.

  116. 1116
    S-Crow says:

    Part 2: If rates get down to 3.5-3.75 % at par or so…….refi’s are going to open up big time for those who purchased in 2014-15 with higher rates.

  117. 1117
    Blake says:

    By softwarengineer @ 1106:

    RE: Blake @ 1105
    Where’s your raw data to back up do nothing about Mexico treating us badly?

    Mexicans are richer than us because they have more manufacturing jobs than we do now…

    Do you like your crow with or without mayonnaise?

    My “raw data to back up do nothing about Mexico treating us badly?”… WTF are are talking about?
    You claimed that “Mexico Appears Richer Than America Now On Paper?” That’s what I asked you to justify… and I thought you’d provide some idiotic MAGA link to support this statement, but I guess you just made it up, eh? Yup, “Mexicans are richer than us”… fer sure DUDE!!! LMFAO!!

    And… Trump is a man of god as well! So pious…

  118. 1118
    Deerhawke says:

    RE: Blake @ 1105

    I always knew HL Mencken was smart. Now I know he was also a prophet.

  119. 1119
    David says:

    By softwarengineer @ 1103:

    RE: Lulu @ 1101
    Yes LuLu

    Plumbing training beats a college education hands down and they’re screaming for plumbers right now. Other lucrative jobs are garbage collectors…what are they $25-45/hr…LOL….beats AMZ pay.

    I replaced the plumbing pipes in my sailboat years ago. The workers at Chernobyl were less cautious than I was.

    If you are willing to do what most people are not, there is real opportunity there.

  120. 1120
    David says:

    By Lulu @ 1095:

    RE: David @ 1089RE: David @ 1089
    It’s 737 Max not 787. It is built in Renton not Seattle. Amazon move to Bellevue which is just 5 miles away across the lake. What impact? Seattle has long gone with manufacturing.

    787 was a typo. IMPACT of layoffs that could well happen if the 737 MAX is not back in service. They have them stacked up like matchsticks over in Tukwila.

  121. 1121
    Erik says:

    RE: Maryann @ 1109
    That’s pretty rude. I think SWE is a pretty smart guy and I like to read his comments.

  122. 1122
    Justme says:

    RE: uwp @ 1090

    Here’s what UWP overlooked: Both in 2017 and 2018, that Friday that he used to bookend the measurement time intervals was in JUNE. whereas today, in 2019 that Friday is still in MAY (today, May 31). Because many properties are taken off-market at the end of the month (via pending or via delisting), and new listings typically are avoided (discouraged?) on the last 1-2 days of the month, the inventory on the last day of the measurements will be artificially low.

    These factors have a big effect on the numbers for 2019. My prediction is, give it a week and inventory will shoot up again. Heck, it may even go up a bit tomorrow, Saturday, June 1.

  123. 1123
    David says:

    1) Large Metro Area Employment Uncertainty (Boeing, Amazon)
    2) Higher Housing Prices
    3) Dramatically Higher Property Tax for a Puny Bus-Style-Train Few Can Use and the tracks are usually empty.
    4) Higher Cost of Capital via Rising Interest Rates (the great gravity machine)
    =
    Slower housing sales.

  124. 1124
    IssaquahResident says:

    What would be an advice about a 6ft boulder retaining wall in a backyard? Does it negatively impact property value? Could there be any stability issues over time?

  125. 1125
    Erik says:

    RE: IssaquahResident @ 1120
    A 6ft boulder wall will decrease your property value 2.25%. You are effectively receiving 97.75% of your value. Whereas a 5ft boulder wall will increase you property by 2.25%. You are effectively receiving 102.25% of you value.

    My point is this, shave a foot off your boulders and be done with it.

  126. 1126
    Justme says:

    RE: IssaquahResident @ 1120

    IMO, a properly made boulder retaining wall is much better than a non-boulder retaining wall. If you have a 6ft drop that means the property is inherently steep, which probably affects the value. But is there anything more durable than boulders to secure it? Maybe not. What worries me are flimsy concrete (or even wooden!) walls that tend to tilt over time. Disclaimer: I’m not by any means a qualified an expert in geology and geotechnical engineering.

  127. 1127

    RE: Erik @ 1117
    Most All Open Border Party Folks Are Naturally Rude Erik

    They replace anything that disagrees with them as automatically evil. Even border security during a crisis. They gave up on American engineers and manufacturing Erik a long time ago, they see us as competition for their money and good pay. Its that simple….think about it and pity them.

  128. 1128

    RE: softwarengineer @ 1123
    I Had One OBP Folk Blog

    At least Japan [Europe too] build all their”quality” cars in America now….LOL…Toyota plans a HUGE new Mexican plant in 2020 and almost all Japanese engineered cars are “Mexican” now….America is the runt dog assembly “lower skilled” slave now for a few Mexican cars….ohhhh, but make sure they used more expensive Japanese and European engineers…LOL

    How much are those Mexican BMWs and Infinitis and Lincolns gonna cost, are they like $50-100K each and look just like the $14K Dodge Caliber cross over design…check out a new $30-40K Subaru 2019 Impezza, its identical to the Dodge Caliber…LOL

    Enjoy your Tariffs folks, its all over priced anyway….I wouldn’t touch those cars “without tariffs” with a ten foot pole now anyway.

    They call this business thinking, its called value Erik, American engineers understand it perfectly.

  129. 1129

    RE: Justme @ 1122
    Lot Shortages in the Seattle Area Decades Ago

    Forced “packed” building lots into swamps in Seattle and have you seen the like 45 degree slope hills they build on in Des Moines and Kirkland? LOL….it all slops downhill after the mud slides….some of these lots can’t get home insurance either, they’re way too risky, check Mukilteo out along the beach, they build ’em on “risky” sand cliffs with no insurance for decades now….

    Lease land on Indian Reservation is another “joke” to build ’em on for decades now….after that 75 yr lease the Indians take it from you, its worthless to sell it after few decades, but Snohomish County still property taxes it like its real land….LOL

    There’s a sucker out there that will buy anyway…..

  130. 1130

    The Bilderbergers’ NWO Secret Society Has Been Headed By High Tech Giants and the EU for Decades Now

    Trump and the wrecking crew destroyed it and watched it burn laughing:

    “…Truly it boggles the mind what Donald Trump would think about his poor innocent son-in-law wandering into the murky world of Bilderberg, with its prime ministers and billionaire investors strategizing behind closed doors with Pentagon officials and NATO chiefs, all under the watchful eye of Goldman Sachs International.

    And not just Goldman Sachs. In Montreux, as ever, there’s a healthy number of high-finance bosses, including the chairmen of HSBC, Deutsche Bank and Santander and the CEOs of AXA and Credit Suisse. But as the movement in Bilderberg towards AI and tech continues, you can see within the group a fault line opening up between Wall Street and Silicon Valley.

    A crisis is looming for Bilderberg, and not merely because of the rise in anti-globalization movements and a creeping loss of faith in the EU project. It’s a crisis of leadership. With the Brexit, Frexit, Grexit and even Polexit dominoes threatening to fall, Bilderberg needs to gird its loins for the long haul if it wants the transatlantic alliance to thrive and its beloved EU to survive. But who’s going to be doing the girding?

    The problem Bilderberg faces is a loss of quality, of intellectual backbone. With David Rockefeller tucked away since 2017 in his cryogenic pod, and Henry Kissinger knocking on hell’s door, you realize that Bilderberg is facing a generational crisis. You might not like or admire Henry Kissinger, you might want him strung up for war crimes, but you have to admit he’s a heavyweight statesman and historian. He’s a psychopath with vision. Where will Bilderberg find the serious ideologues to lead them into the 2020s?

    Should they look to the academics? The globalists have their pet professors, like Niall Ferguson, now an American citizen, who once described himself as ”a fully paid-up member of the neo-imperialist gang”. But he doesn’t have anything like the gravitas to get anywhere near the helm.

    If you look around the current conference for people with enough substance — enough ideological meat on their bones to drive Bilderberg forward, you won’t find it in finance, and you certainly won’t find it in politics, because for the last few decades the really smart people have gone into engineering and tech. And that, surely, is where the center of gravity within Bilderberg will end up.

    The two figures at Bilderberg who seem to have an aura of influence about them are Schmidt and Thiel. Over the years, Schmidt has been gently aligning himself as the heir to Kissinger, and has populated recent conferences with Google executives. The Libertarian Thiel has already engineered his lieutenant, Alex Karp, onto the steering committee.
    Related Stories

    Google and Oracle’s ‘Copyright Case of the Decade’ May Go to Supreme Court
    Microsoft Installs App That Helps Detect Fake News

    Whichever one of them manages to grab the most sway, the shift in influence toward Silicon Valley will inevitably go along with an even further slide of power toward the U.S. and away from Europe. Tech is a force greater even than Kissinger, a radical reconstructive force that nothing in Bilderberg can withstand. And so the future of the group, which was begun by Europeans, will end up firmly in the hands of the Americans.

    Charlie Skelton is a U.K.-based writer and journalist….”

    https://www.newsweek.com/silicon-valley-switzerland-bilderberg-2019-and-high-tech-future-transatlantic-1441259

    Kiss the NWO good-bye, EU is at each other’s throats with knives now, so are the North American countries….blame Trump, if you want, I blame OVERPOPULATION….LOL

  131. 1131
    Justme says:

    Weekend inventory update graphs are up, please check the link

    https://twitter.com/coqumragep279/status/1134866650124046336

    King County (Seattle and suburbs) SFH inventory had a historically unusual bump up the week of Memorial Day. This week, sellers agents have been avoiding making new listings because Fri was the last day of the month. Expect a bump up again next week.

    More SFH stats, as of this (Saturday) morning after 8am:

    4113 active inventory
    369 price reductions this week
    462 closed sales this week
    580 new listings this week
    1928 pendings with < 1mo DOM

  132. 1132

    Men and Women Are Equal Now

    Make her pay for half the date cost, its only fair.

    https://www.yahoo.com/finance/news/dating-world-cost-180823213.html

    Approx $200/date isn’t chump change Bubbleheads….ya see why I’m still single? LOL

    And weak kneed “Poindexters” that pay big amounts for dates to wine and dine usually don’t get lucky either…the cheap bad boys [like SWE?] pick them up later and do….LOL

    Its a NWO folks, we all must pay our way, regardless of gender….

  133. 1133

    Hey Erik

    Here’s another option to be a land baron with like 2-3 rentals and your own castle with it= just one dinky Seattle condo…LOL

    https://www.realtor.com/realestateandhomes-search/66106/sby-6?identityID=5ce195738316d86bd7067fa2&MID=2019_04_NewListings_NLDate&RID=5537876422&cid=eml_promo_Marketing_PRSL_NewListings_cons.10823502_2019_04_NewListings_NLDate-recovery_allnewlistings-RDC

    You’ll be set for life and no worries….LOL…you can say hi to my daughter too, as she’s living the prosperous good “zip code 66106” life for a fraction of Seattle costs…throw in a free home for your new son too…LOL

    Here’s the listings….no need to flip to get ’em either….they’re cheap anyway, LOL…your wife should like that ;-)

  134. 1134
    Erik says:

    RE: softwarengineer @ 1123
    A lot of liberals seem to be highly emotional. They think with their emotions instead of using logic. Not all, but generally the lower intelligence liberals.

  135. 1135

    RE: Deerhawke @ 1114
    LOL…Another OBP Philosopher With No Agenda

    Just vicious attacks on anyone that thinks different….I like Dr Norman Vincent Peale much [Trump’s family pastor BTW][ better, the Dr. of Possibility Thinking and anything is possible…not some Yahoo with no agenda but blame…

    To each their own.

    Dr. Robert Schuller [another possibility thinker] learned from Peale too, he came up with “there’s a button on each of us that we all control our attitude, and can blame no one but ourselves”.

  136. 1136

    RE: Erik @ 1130
    I Blame It On Diversity Erik

    Even the EU thinks Americans are way too brainwashed by identity politics [like skin color, etc…]…Obama replaced the Equal Employment Opportunity (EEO) emphasis on skills and experience with brainless diversity Racism in my book. Affirmative Action was flushed down the toilet with it, about 10 years ago.

    Now call me a Racist for just discussing policy…LOL….they need to read more Peale…the alternative is a road to Hell.

  137. 1137
    David says:

    RE: softwarengineer @ 1132 – Some EU leaders said Obama was mentally ill.

  138. 1138
    toad37 says:

    By Eastsider @ 1014:

    By dariakus @ 1008:

    I’d appreciate any home price relief I can get at the moment though, because I can’t even get into the market at present.

    Here is my 2 cents. The primary reason prices are out of reach in so many places including Vancouver, Seattle, Sydney etc is the unprecedented amount of liquidity pumped into the system by global central banks. When liquidity disappears, as in Vancouver, prices plunge because they are out of reach. In today’s Seattle market, only the well to do (top 20% household?) can afford an average home. This is clearly unsustainable without the excess. So you can blame the Fed for the massive asset bubbles in RE, stocks, and debts. The Fed has more influence on prices than any forecast made by people on this board.

    Well said, Eastsider!

  139. 1139
    don says:

    RE: David @ 1133

    But they don’t say that about Trump…

  140. 1140
    Erik says:

    RE: toad37 @ 1134
    Eastsider is using complicated terms like “liquidity pumped into the system by global central banks” when he/she just means lower interest rates, right? People that use fancy words to sound smart makes me think the opposite of what they want people to think. I just think “what a moron” and shake my head. If you like people that use fancy terms for simple concepts because they want to sound smarter than they are, well, I’m not sure we are on the same page.

  141. 1141
    Nicole says:

    RE: Erik @ 1136
    Actually, expansionary monetary policy is not just lower interest rates. Central banks can also use what are called open market operations to manage bond markets to increase the money supply and further push interest rates down. (They buy back bonds rather than reissue them, leaving money in the hands of bonds holders)

    Liquidity isn’t a complicated nor even fancy concept to people interested in housing markets (i.e. people on this board) and it seems reasonable to use real terms rather than dumb them down for fearing of offending those who are nervous around “smart” people or who feign that position to cozy up to people who like using terms like liberal elite. It’s really disappointing to see the spread of this kind of thinking.

  142. 1142
    David says:

    RE: Erik @ 1136 – Interest rates are the engine. But lower housing inventory will still be the driver of higher prices once rates come down.

  143. 1143
    pedaltothemetal says:

    Shit, the movie singles had Seattle with a super train in ’92. The soundtrack for that movie is sick.

    The sound track for Seattle is now heavy on the sitar h1b bobble.

    Everyone get out your empty bezos boxes and do the h1b bobble!! Sounds like fun!

  144. 1144
    pedaltothemetal says:

    Must be fun to work at Amazon and realize it’s boxes all the way down.

  145. 1145
    pedaltothemetal says:

    The box at the very bottom has a little bezos micro p inside. It will be your little prize. Keep shining those balls.

  146. 1146
    formerSeattleite says:

    https://www.marketwatch.com/story/hidden-realtor-commissions-could-be-next-housing-market-domino-to-topple-as-government-probes-mls-2019-05-31?mod=MW_home_top_stories

    There are certain users on here that have been talking about this for years. I posted a similar article seve days ago. I can’t wait to see how this plays out — this should make most RE agents and the MLS folks shake in their boots.

    The smart folks will adapt. But most of the industry will dump millions of dollars into lawyers and lobbying and prevent any change and thus keeping the RE agents and MLS nice and wealthy while the suckers of the system keep paying.

    Let the real battle begin

  147. 1147

    RE: David @ 1133
    I Don’t Think Mentally Ill Quite Captures It

    Thought Disorder is a better description IMO, did you know their are several levels of thought disorder psychologists document…Level I is hard to diagnose, but Level II and III are obvious. I learned this bit of psychology during court training visits…depression is easy to diagnose, but Schizophrenia is an example of a psychotic disorder and almost impossible to diagnose clearly [or cure with drugs]…many have low level Autism and don’t know it, they think they’re introverted [most Government Workers are not extroverts BTW, they’re introverts]…I’m an extrovert BTW….LOL

    50% of all of us suffer some form of mental illness in our lifetime, so its not unusual.

  148. 1148

    RE: pedaltothemetal @ 1138
    LOL…the H1B Bobble

    Do they bobble the ‘Vegas Hacking” dice too during weekly patches and virus S/W quality fatigue too?

  149. 1149

    RE: Erik @ 1136
    Well Said Erik

    Attorney talk is something I’ve learned over time and ignore/correct in simple words over time too….its legal mezmerization hogwash to make them look smart anyway.

  150. 1150

    RE: David @ 1137
    Another Variable is Possibly More Abrupt and Unpredictable

    We just don’t qualify for the new bank loan risk methods; like higher down payments and reduced credit ratings. Inventory rules, don’t get me wrong….I’ve lived through the 80s and watched the loan limits on available net $CASH% at 30%/mo, after car, college, bar payments, etc… [I added bar payments as a joke BTW]. 20% down too. Lower interest rates are risky to banks right now?

    We’ll know more when the YOY interest rate data change comes out for May.

  151. 1151

    RE: toad37 @ 1134
    The Top 10% Income Was Approx $100K+ a Few Years Ago

    I’d use the top 10%, not 20%.

  152. 1152
    David says:

    By pedaltothemetal @ 1140:

    The box at the very bottom has a little bezos micro p inside. It will be your little prize. Keep shining those balls.

    “Mail was an internet before the internet. After the Civil War, several new communications and transportations systems—the telegraph, rail, and parcel delivery—made it possible to shop at home and have items delivered to your door. Americans browsed catalogues on their couches for jewelry, food, and books. Merchants sent the parcels by rail.”

    This sounds like what is old is suddenly new again. See “Sears”.

  153. 1153
    David says:

    By softwarengineer @ 1143:

    RE: Erik @ 1136
    Well Said Erik

    Attorney talk is something I’ve learned over time and ignore/correct in simple words over time too….its legal mezmerization hogwash to make them look smart anyway.

    I found, at trial, that being perceived as the most honest lawyer in the room will win you a trial. Even a murder trial. It is really hard to flat out lie well and sound believable to 12+ people (including alternates). If you really killed somebody, and it is obvious or logical that you did, you need to explain the “why” and not try to justify the lie.

    Granted, OJ Simpson did it. But I think that is the rare exception where only race mattered.

    Then again, that worked for Obama – who turned an entire population of white folk into a generation of ‘kapo”. Everyone needs to remember that Obama was the Prez who openly encouraged anti-race behavior with very truthful celebrations and outcries for white people to die.

  154. 1154
    northender says:

    RE: Justme @ 1127
    Why would anyone delay listing their house because Friday falls on the last day of the month?

  155. 1155
    Deerhawke says:

    RE: northender @ 1148

    Why?? Choose one of the following:

    1) Feng Shui
    2) Shui Feng
    3) Moo Goo Gai Pan
    4) No reason. Except it helps to bolster a weak argument by those who aren’t acquainted with the industry for those who aren’t acquainted with the industry.

    In a few days, the new monthly stats will be out. I will post a link if The Tim does not.

  156. 1156
  157. 1157
    northender says:

    RE: Deerhawke @ 1149
    Hmmm. If Justme doesn’t have a better explanation and if inventory doesn’t climb next week he/she may need to start rethinking some of their theories about this market. It does not seem to me like sellers are rushing to the exits.

  158. 1158
    David says:

    FYI: The 30-year lifetime opportunity cost of a $500k house with ~$6k/year in property taxes is a MINIMUM of $462,339.00.

    Thanks be to the bus-train.

  159. 1159
    Eastsider says:

    RE: Erik @ 1136 – Liquidity and interest rate are two different terms/concepts. If you are clueless, there is no need to call others names.

  160. 1160
    uwp says:

    SB gets even better once you pass 1,000 comments.

    Bilderbergs and the NWO!

    I’m just glad to have my tinfoil hat as I browse listings on Redfin – can never be too careful!

    It’s weird that sellers were rushing to list before Memorial Day (a sure sign of the apocalypse per Justme) but now, they don’t want to list at the end of the month because… reasons. We would all be lost if it weren’t for the RE knowledge Justme bestows upon us.

  161. 1161
    Concerned Citizen says:

    When did this site become a pathetic Republican circle jerk?

    By the way, SWE, I think Erik is straight and recently married. You might be barking up the wrong tree.

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