The Washington Center for Real Estate Research (WCRER)has released their latest affordability statistics. Unsurprisingly, home affordability in King County dropped yet again, reaching a new low of 69.2. Here’s your latest graph of WCRER’s index since 1994: Click to enlarge The decline in affordability from Q2 to Q3 was relatively minor, due to lower interest…
Category: News
News, current events, etc.
Congratulations, You’re A Homeowner… Psych!
King 5 News reports on a home-buying scheme that has ensnared at least a few unsuspecting victims: Imagine buying a home and moving in, only to find out later that the house was never yours at all. It’s a mortgage scheme that’s caused financial pain and heartache for many families in Western Washington. It’s a…
An Anecdotal Update (Or Two)
I noticed on my drive home from work one day last week that the for sale signs had come down from in front of the million-dollar new construction on Avondale. Recall that just under a month ago, the price was dropped (again) to $1,275,000. So did the house sell, or are they just taking it…
Seattle Bubble Stats: Where are the Condos?
The question was asked on my number-crunching post last week of why I do not include condos in most of the statistics that I post here. Since that is a valid question that other people may be wondering as well, I thought I would post the answer where it will gain more visibility. I choose…
The Puget Sound "economic" levee: will it hold?
From Business Week: “St. Louis Fed president William Poole said, according to Bloomberg News. ‘As long as the housing problem remains confined to housing, there’s really nothing the Federal Reserve can or should do.’” Realistically, I don’t think this will be the case. From a business perspective, I’m watching cash flow more intensely than ever….