Latest state unemployment figures came out yesterday. Here’s a brief look. Seattle area’s (King/Snohomish) unemployment rate (not seasonally adjusted): And here’s a graph that I created for Sound Housing Quarterly, which shows the percentage change year-over-year in various job categories, also for King/Snohomish:
Category: News
News, current events, etc.
Some Luxury Condo Developers Finally Dropping Prices
Another great story in the Seattle Times today by Eric Pryne: Bellevue Towers, other new condo projects cutting prices The developer of the region’s tallest luxury condo towers says it’s cutting prices an average of 20 percent in hopes of kick-starting sales. Only 43 of the 539 units at Bellevue Towers in downtown Bellevue have…
Lumen Condo Results Roundup
The Lumen Condos auction was held today. 19 units were being advertised, but only 16 were auctioned off. Coverage of the event is plentiful, so rather than rehashing, I’m just going to provide a few links: Findwell: Lumen Condos Sell Out at Auction BizTalk (PSBJ): Lumen condos sell at auction Urbnlivn: Lumen Auction Results +…
Redfin Turning a Profit Even in Serious Down Market
Congratulations to Redfin, who announced today that they are officially profitable: The Naked Truth is Out: Redfin is Profitable Redfin was profitable last month, all while maintaining our 97% customer satisfaction. The business has been growing by leaps and bounds, in part because the real estate market has had a small rally this summer, but…
Major Local Commercial Real Estate Developer Struggling
Speaking of developers having financial trouble, the Puget Sound Business Journal has a story up today about a major local commercial developer on the rocks: Developer Mike Mastro’s troubles mount. A longtime, prominent Seattle developer is facing a mounting string of legal actions as he struggles to pay off millions of dollars in loans at…