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Drive by comment: What a small world.
Today I was shopping for a large capital expense item for the office and met with a software vendor and the owner of a hardware dealer up in the Everett area. The software vendor was showing his wares in a presentation and his accent was thick. Obviously the gentleman was from Britain. He asked what…
Lenders’ Tightening Standards Even Hit Seattle
Here’s the latest from Aubrey Cohen over at the P-I: Mortgages harder to get for local borrowers Lenders who previously approved mortgages to people with bad credit, no down payment and little or no documentation of income now are refusing loans if even one of those three factors is questionable. This is true even in…
Case-Shiller: Seattle Stagnant in July
The prediction (emphasis added): When July’s housing stats came out last week, the most confusing piece of data was that despite skyrocketing local inventory and tightening lending across the nation, the median price still jumped up 2.3% from June, bouncing back into double-digit YOY territory at a 10.6% increase since July 2006. … I believe…
Zoning to Blame… Yeah, That’s the Ticket.
What’s to blame for the Seattle area’s out of control housing prices? If you read the local papers, you’ll hear all kinds of reasons. Booming local economy, running out of land, super-extra desirable climate, Microsoft/Boeing, you name it, they’ve claimed it (almost). The latest scapegoat: local zoning. “Local zoning is the No. 1 enemy of…