The local unemployment rate continues to rise sharply, according to the August data that was just released. As economic thunderstorms lash Wall Street and soak most of the rest of the country, Seattle and Washington state have managed to stay fairly dry. But beware: The skies are darkening quickly. Unemployment in Washington state took a…
Seattle to Weather the Recession “Better than Most”?
Here’s a brief article from the Wall Street Journal that might be of interest: Weathering the Rain, And the Property Storm The troubles facing most Seattle-area landlords are more like a Puget Sound drizzle than the stormy skies swirling around markets such as Phoenix or Orange County, Calif. Certainly the economic turmoil buffeting the nation’s…
Job Growth Turning to Losses, Rents Holding Steady
Here’s a pair of interesting articles from the Puget Sound Business Journal this weekend. Puget Sound job growth slowing to trickle The [Puget Sound] Economic Forecaster, published for the last 15 years and used by companies and governments across the region, is predicting the four-county region will add just 5,900 jobs in the third quarter…
Poll: Investment Bank Blowups / Financial Market Meltdown
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Seattle-Area Foreclosures Rising Rapidly
Right on schedule, as home price declines in Seattle really start in earnest, foreclosures begin to “soar.” Seattle-area foreclosures were up 54 percent in August from a year earlier, according to a new report. The area, defined as King and Snohomish counties, had 1,185 properties with foreclosure filings, up 15 percent from July, according to…