While Economy.com’s secret formula based on “an econometric model” forecasts Seattle home prices to increase 59% over the next 10 years, economic and financial research company Global Insight begs to differ. According to their own non-secret formula, Seattle home prices are overvalued by 33.8%, up from 22.3% overvalued at this time last year. Check out…
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News, current events, etc.
Housing Continues To Buoy State Budget
Here’s the latest news on the state revenue front. Housing continues to be the life vest keeping the state budget afloat. The state budget picture got even brighter Wednesday when its chief economist predicted the state would close out its books for the current two-year spending cycle with a surplus of more than $1.8 billion….
Update Zillow—Pay More Taxes?
With the crazy run-up in home prices of the last few years, homeowners (as a collective whole) have become somewhat two-faced when it comes to the value of their homes. On the one hand, they proudly tout how much value the granite countertops and other home upgrades have added to their home. They nestle all…
Foreclosure Scams Prey On Suicidal Loans
Thanks to a few commenters in today’s open thread for pointing out this article in today’s P-I about foreclosure scams. Most of the article is dedicated to telling the tales of local homeowners that were scammed out of their homes, but there are a few quotes that are of specific interest to the bubble subject….
Seattle’s Tenuous Smartness
Yo ho, mateys. This be a fairly long article from the weekend, but considerin’ that it be about Seattle’s smartness ‘n high tech jobs, I be findin’ it worthy of postin’ here.</pirate> A once-proud hub of innovation left to languish as brilliant people, new ideas and dazzling products bubble up elsewhere. An urban wasteland that’s…