As the far-reaching economic consequences of the popping of the housing/credit bubble unfold, local governments are feeling the pain. Snohomish County faces a $9 million shortfall for 2009, forcing a hiring freeze. While down in King County, Ron Sims just announced that 255 jobs will be cut. Financially ailing King County will send layoff notices…
Redfin Cuts 20% of Staff
It looks like the tough real estate market has finally caught up to our favorite local real estate search innovator and discount broker Redfin. From the corporate blog: Today Redfin laid off roughly 20% of our employees. Unlike other startups, our industry’s recession started a year ago, when home prices first plunged. Since then, we’ve…
Gregoire Ignored Budget Warnings, Now Faces the Consequences
I usually try to avoid getting into political issues on here, but something has come up that I simply cannot ignore. A few days ago the Seattle P-I posted videos from Christine Gregoire and Dino Rossi where each candidate makes the case on why you should vote for them. As I was watching Christine Gregoire’s…
Poll: Which is Most Likely for the Economy?
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Construction Defaults Over 10%, Tacoma Condos Empty
A few more articles from this week about how dramatically the local real estate market has slowed. Puget Sound Business Journal: Construction defaults rise in Seattle area The latest data on local new-home sales and construction-loan delinquencies illustrate the market forces underlying the growth in mechanics’ lien filings. Delinquencies of single-family construction loans in the…