Out of 95 US metro areas, the Seattle-Tacoma-Bellevue housing market ranks as the 79th most affordable. In other words, even with Pierce County dragging the average down, as of 2005 we were still the 17th least affordable metro. Bizjournals compared housing costs and income levels in the 95 U.S. metros with populations above 500,000. The…
Tag: affordability
"Quite frankly, it’s time to buy."
I think maybe there is some kind of virus infecting the minds of potential homebuyers. The virus settles into the brain and causes the victim to lose the capacity for rational thought in matters of real estate. Symptoms include the delusions that “I need to buy now or I’ll be priced out forever,” “I should…
Bubble Link Roundup
There were a lot of mildly interesting real estate stories in the local rags this weekend. So, I think it’s time for another link roundup: a list of links that are worth posting, but not each as their own post. The following links happen to all be specific to the Seattle area. Christy L. Thomas…
Seattle’s PMI Risk Index Continues Climb
The latest PMI report (pdf) is out, and much to no one’s surprise, Seattle’s risk index has increased yet again. Click to enlarge Jumping 14 points from the fall to a total of 167, Seattle now boasts a PMI that is 2.6 times its Summer 2005 low of 64. Although Seattle’s Risk Index is still…
2007 Optimism, Part III: Some Cracks Appear
This is the last post in this impromptu series. There were just so many articles out there full of “expert” quotes and predictions about the Puget Sound’s economic outlook for 2007. Here are three more articles that discuss the interaction of the local housing market with the greater local economic picture. Surprisingly, the housing affordability…