A reader pointed out to me this week that it has been three years since I updated the long-term chart of King County home prices back to 1950. So, by request, here is an update to that chart as of May, along with the affordability index over the same time period. In the first quarter…
Tag: affordability
Downtown Condos: Middle Class Need Not Apply
Here’s a detail in today’s Seattle Times article about Insignia—the first new construction condo project to break ground in five years—that caught my attention: While condo prices at Insignia haven’t been set, Bosa said, “they’ll be more than you can buy anything [downtown] for now.” More than anything that’s for sale right now? Yikes. One…
Local Incomes Could Afford 22% More Expensive Homes
Let’s take an updated look at home affordability in King County. First up, the affordability index. The affordability index is based on three factors: median single-family home price as reported by the NWMLS, 30-year monthly mortgage rates as reported by the Federal Reserve, and estimated median household income as reported by the Washington State Office…
Bottom-Calling Checkup: Finally Almost There
Full disclosure: The Tim is employed by Redfin. It’s been quite a while since we checked in on the various bottom-calling methods I introduced way back in February 2009, so let’s take a look. First off, here’s the official forecast I made in my wrap-up post: So my personal bottom call for the Seattle real…
Reader Rant: Seattle Home Prices Still “Make No Sense”
Once in a while a reader leaves a comment that deserves its own post. In the wee hours this morning, gardener1 left such a comment: Dear god, I cannot fathom why anyone would commit 30 years of hard earned wages into a crapshack like the housing that is available in Seattle. Has the Seattle algae…