Remember how when prices were going up, up, up, one of the reasons it was allegedly justified was “high construction costs”? See this post for a lengthy example of a local real estate professional making that argument. Well, luckily for us, it would seem that construction costs are dropping like a rock. Or, perhaps not…
Tag: Economy
Gregoire: “The economy is strong. Buy your home.”
Everybody’s pal Christine Gregoire gave a pep talk to the Washington Realtors last week in which she made some interesting comments. Gov. Chris Gregoire told about 400 Washington Realtors on Thursday that she has been working to meet goals the group has for transportation, affordable housing, education and quality of life. Gregoire, who spoke a…
WSJ: Mortgage Crisis Rivals S&L Meltdown
The Wall Street Journal has a good article today detailing the extended financial mess that has been brought on by the irresponsible enthusiasm of the now-bursting housing bubble. The home has long been the bedrock asset of most American families. Now, its value has become the biggest question mark hanging over the global economy and…
When is the drink going to run out?
As the flying party that is the debt-fed US economy and the super-special Seattle housing market experience more and more turbulence, I feel that the following quote from Douglas Adams’ novel Life, The Universe, and Everything (third book of five in the must-read Hitchhiker’s Guide to the Galaxy trilogy) is even more pertinent than it…
Protecting Our Assets From a Tanking Dollar
As I’m sure you all know by now, yesterday the Federal Reserve cut the benchmark interest rate again. While this move will no doubt feed the false hope for a speedy end to the housing slump, there is likely nothing the Fed can do that will stop the bubble from deflating. However, when I step…