A couple weeks ago we mentioned a recent Bill Virgin column in which he sorta kinda called a bottom for housing (and the economy) in 2009. Well, a lot has changed in Bill’s world in the last few weeks, and his tune has changed slightly. Forecast of short recession looks shaky It is a sobering…
Tag: “Seattle is special”
“The housing market is slightly undervalued” (except in Seattle)
A recent report on the housing market across the country from Global Insight and National City contains some interesting bits that are worth noting: Extreme overvaluation is now essentially nonexistent. … For the country as a whole, the housing market is slightly undervalued. … Only the Pacific Northwest remains overvalued across a wide region. Their…
Washington Banks Hit With More Bad Loans
Kirsten Grind had an interesting piece about local banks in the Puget Sound Business Journal last Friday: Bad loans rising at Washington banks Bad loans are up dramatically at Washington state banks, surpassing the national average and reaching levels that local banking experts say are unprecedented. … Washington banks historically have seen lower levels of…
Forbes: Seattle Most Likely to Rebound
In a story eerily similar to SmartMoney’s “best shape for a rebound” article Forbes once again places Seattle #1 on their own list of Real Estate Markets Most Likely To Rebound. The best cities in which to invest are those that are considered gateways to international investment, have vital downtowns where people can forgo cars,…
Local Companies Tighten Belts, King County Cuts Jobs
As the far-reaching economic consequences of the popping of the housing/credit bubble unfold, local governments are feeling the pain. Snohomish County faces a $9 million shortfall for 2009, forcing a hiring freeze. While down in King County, Ron Sims just announced that 255 jobs will be cut. Financially ailing King County will send layoff notices…