The Everett Herald reports that Washington Mutual is cutting 140 processing jobs in Lynnwood (Home Loan Center I presume). Evidently the majority are in processing and the company expects to move some of the operation overseas. “More reductions are possible,” said Tim McGarry, vice president of corporate public relations. “It is true that there may…
Category: News
News, current events, etc.
Olympia Experiences "Necessary Cooling Effect"
Here’s the latest report out of Olympia, where business reporter Rolf Boone doesn’t bother to wait for the NWMLS talking points press release before publishing his monthly real estate stories. While South Sound home sales year to date are running 6 percent ahead of sales through all of 2005, higher inventories continue to slow the…
Realtors Getting Testy, Anti-Competitive
In yesterday’s open thread, Plymster pointed out an interesting bit of drama that is being played out in the Seattle real estate blogging scene. I’m not really interested in fanning internet flame wars, but the comments of a local Realtor™ really sheds some light on one of the problems the real estate industry as a…
"Prices plateau as incomes catch back up"
Here’s some real hard-hitting reporting from the P-I. It turns out that mortgages are rising a lot faster than paychecks. Who knew? The percentage of Seattle residents who … own their homes increased over the past five years — even though home values and mortgage payments rose much faster than incomes, data the U.S. Census…
There Is No Spoon
A post by Susan Ryan over at the PI’s RE Blog proclaims “Just Say No to Bubble Talk” “As I’ve said repeatedly, stock market terms do not apply to real estate. There is no real estate bubble and never will be. A decrease in acceleration is not an implosion (or even a pop). Kendra Todd…