Gangbuster Job Growth, Lackluster Incomes

One of the most frequent arguments you’ll hear if you ask someone to try to justify Seattle’s high home prices is job growth. It usually sounds something like this: “We’ve got Boeing and Microsoft, and all these highly-paid, high-tech jobs are continually being added to our strong economy.” Well, as you all know, we’ve beat […]

“We don’t want to panic. We need to be brave.”

Maybe I’m just in a “mood” this morning, but this story in today’s Tacoma News Tribune really cracked me up. A morning of housing pep talks greeted builders, real estate agents and government folks Thursday: Build green. Be brave. If Coeur d’Alene, Idaho, can go urban, so can you.Economist Glenn Crellin, director of the Washington […]

Mortgage Mess Difficult to Ignore

Take a look at the front page of the Seattle Times website this morning: Click to enlarge That’s Coalition warns of “mortgage tsunami”, followed by Accounting, executives at lender New Century investigated, Fraud charges at Metropolitan Mortgage & Securities settled, and of course Mess unlikely to break economy. First off, I don’t think the term […]

Seattle is Different. We’re Totally Immune.

Dow, Nasdaq, S&P500Click to enlarge Microsoft & BoeingClick to enlarge Update: By request, here is a graph of today’s stock performance for a handful of other locally-based companies. Other Seattle-Area CompaniesClick to enlarge For those of you keeping score at home: Boeing: -1.95% Microsoft: -4.12% Amazon: -5.00% Starbucks: -3.94% Nordstrom: -7.59% Costco: -3.48% Washington Mutual: […]