Sorry, this isn’t a Seattle-specific story, but it caught my attention this weekend as it seems like a major policy shift on the national level: President shifts focus to renting, not owning The Obama administration, in a major shift on housing policy, is abandoning George W. Bush’s vision of creating an “ownership society” and instead…
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More on the Possible Mastro Bankruptcy
Kristen Grind over at the Puget Sound Business Journal had another great article about the unfolding mess with local developer Mike Mastro: Rival banks battle over Mastro bankruptcy A legal battle between rival creditor banks over developer Michael Mastro Sr.’s real estate holdings is breaking out in federal bankruptcy court — a dispute that affects…
Improvement in Seattle Home Prices vs. Economic Fundamentals
Here’s an update to the area-wide price-to-income and price-to-rent ratio charts we first posted back in April. These charts are based on per capita income, “Median Contract Rent” (from 2005 adjusted using the “rent of primary residence” component of the CPI), and Case-Shiller home prices indexed to the county-wide median. They are not intended to…
Legislation-Induced Foreclosure Spike Begins to Wane
Time for our June update on Foreclosure activity in King, Snohomish, and Pierce counties. First up, the Notice of Trustee Sale summary: July 2009 King: 1,248 NTS, up 71% YOY Snohomish: 620 NTS, up 75% YOY Pierce: 803 NTS, up 48% YOY The effect of the new state law that was passed in April (Senate…