KING 5 reports that the increase in foreclosures is putting stress on one local non-profit that offers assistance to distressed mortgage owners. For homeowners caught up in the mortgage meltdown, finding help to save their homes is getting tougher. A Seattle non-profit group helps those facing foreclosure, but the small office is overwhelmed. … The…
Category: News
News, current events, etc.
More Good List-Based “News” from Forbes
The constant stream of lists from Forbes provides a great distraction and source of amusement. Their latest list is no exception. Behold the ten “Best Cities To Ride Out The Recession”: Austin, TX Oklahoma City, OK Honolulu, HI Portland, OR Tulsa, OK Virginia Beach, VA Seattle, WA Baltimore, MD Boston, MA Lancaster, PA From the…
Local Companies Tighten Belts, King County Cuts Jobs
As the far-reaching economic consequences of the popping of the housing/credit bubble unfold, local governments are feeling the pain. Snohomish County faces a $9 million shortfall for 2009, forcing a hiring freeze. While down in King County, Ron Sims just announced that 255 jobs will be cut. Financially ailing King County will send layoff notices…
Redfin Cuts 20% of Staff
It looks like the tough real estate market has finally caught up to our favorite local real estate search innovator and discount broker Redfin. From the corporate blog: Today Redfin laid off roughly 20% of our employees. Unlike other startups, our industry’s recession started a year ago, when home prices first plunged. Since then, we’ve…
Construction Defaults Over 10%, Tacoma Condos Empty
A few more articles from this week about how dramatically the local real estate market has slowed. Puget Sound Business Journal: Construction defaults rise in Seattle area The latest data on local new-home sales and construction-loan delinquencies illustrate the market forces underlying the growth in mechanics’ lien filings. Delinquencies of single-family construction loans in the…