Housing Crisis Not Over, Just Starting in Seattle

A couple people pointed out a piece in the Wall Street Journal yesterday titled The Housing Crisis Is Over. I don’t doubt that the mere fact that it was printed in the WSJ makes it gospel to some folks. I am not interested in writing a rebuttal to this piece, as that has already been […]

“Positive Fundamentals” with “Hints of Weakness”

Ahh, Les Christie of CNN Money—the perfect national companion to our local captain of the real estate cheerleading squad, Elizabeth Rhodes. Where would we be without your frequent reports reminding everyone across the country just how special Seattle is? In the middle of a nationwide housing slump, a few markets have held their ground – […]

More Homes Than They Could Afford

Seattle was mentioned today in this piece from CNNMoney. NEW YORK (CNNMoney.com) — Home price increases have slowed nationwide and even reversed in many markets. Inventories are up and new home builders are cutting back. More and more sellers are having difficulty selling their properties.…For some sellers selling their old home quickly is critical: They’ve […]

More "FairValue" Malarkey

Why this is in the news again is beyond me, but apparently CNN/Money is really keen on some dude that uses a secret formula to determine which housing markets are overpriced. We talked about this same guy’s babblings just three short months ago, and very little has changed since then. After years of local home […]

Real Estate Party In Washington!

A number of readers pointed out the latest series of rah, rah, real estate stories from Money Magazine that sing the praises of real estate in Washington State. The gist of the articles is that while the slowdown in real estate is undeniable in most of the country, the crystal ball predicts that a number […]

Seattle A "FairValue"

A commenter pointed out this article on CNN Money a few days ago regarding overpriced coastal housing markets: Some of the most overheated U.S. housing markets did become a little less overvalued during the fourth quarter of 2005 — but homes there didn’t actually fall in price.Other factors, such as rising income, combined to increase […]

King County: Prices Up, Wages Down

Thanks to the reader that pointed out the story on CNN regarding the recently released statistics on wages. Real wages are not exactly going through the roof. For the 24-month period through the second quarter of 2005, the inflation-adjusted wages of an average American grew just 1 percent or so, according to statistics reported by […]