One of the arguments that is frequently heard from people who don’t think there is a real estate bubble in Seattle is that the Seattle area is somehow special, and has unique characteristics that will protect it against real estate price corrections. Although I agree that Seattle is a wonderful place to live (why else…
Early Slowdown Signs in Olympia
Following up on the Olympia market is today’s story in The Olympian: Home sales surge in August He noted that there were 1,038 homes listed for sale last month, a 9 percent increase from 955 listings a year ago. Also, he said, homes that sold last month were listed an average of 45 days, 8…
Anecdotal Evidence
I don’t know if actual inventory is going up in the greater Seattle area, but I do know that I have noticed more “for sale” signs cropping up in my neighborhood lately. Just for kicks, I decided to take two of the recent listings and keep an eye on them. For variety, I have selected…
Would You Pay $200k for 500ft²?
Although this isn’t a news item so much as it is a blatant advertisement (a.k.a. “press release”), I still found it to be another interesting sign of the times. Called Mosler Lofts, the 12-story condominium project is located near downtown restaurants, shopping and attractions, and Seattle Center. The lofts will range in price from the…
How Will Katrina Affect Housing Markets?
The New York Times today has an article that asks whether the effects of the hurricane will shorten or extend the housing boom (bubble): Hurricane Katrina destroyed hundreds of thousands of homes, threw at least a million people out of work, disrupted supply lines for businesses and brought misery to untold numbers. Will it also…