Back in January 2008, nearly two years after the housing bust began, and six months after home prices peaked in the Seattle area, Washington State Governor Christine Gregoire was hitting the campaign trail with a reelection message powered by complete denial: Addressing the politically powerful Washington Realtors, the Democratic governor said she sometimes wishes people…
Tag: 2008
Friday Flashback: John L. Scott’s 2008 “Buy Smart Zone”
Today’s Friday Flashback comes to us courtesy of John L. Scott (“Your Trusted Real Estate Resource”), who published this delightful “white paper” in early 2008, titled Why Now Is A Smart Time To Buy (pdf). Here are some selected excerpts: FACT: The housing market is undergoing a natural cyclical correction. …unlike what the media would…
Friday Flashback: Seattle’s Housing Bubble All-Star Team
Rather than focus on just one article for today’s Friday Flashback, I thought it would be fun to highlight a montage of brief quotes from a handful of local real estate professionals. Marlow Harris on 360Digest, April 29, 2006: Housing Bubble Babble Though I concede that we could be in for a market correction or…
Friday Flashback: A Great Time for Wise Investors
Here’s an episode of the HGTV show “House Hunters” that aired on July 17, 2008, but was probably filmed around September 2007 (based on the closing date of the featured buyer). Here are some choice quotes for those of you who can’t watch the video: Host: “Because of the abundance of new construction, it’s a…
2008 Pop Quiz
Pop quiz, hotshot. Let’s say you had $100,000 on January 1st 2008. Which of the following “investment” methods took the largest loss in 2008: 20% down payment on a $500,000 SFH in King County. S&P 500 index fund. Cash under the mattress. … And the answer is… A! According to the NWMLS, the median price…