Here are a couple of recent stories to drive home the point that the Seattle area economy is not in fact magically separate from the national/international economy, as some have made it out to be over the last few years. Brad Wong, Seattle P-I: Tough economy forces cutbacks for area residents The economic shocks to…
Tag: “Seattle is special”
Seattle Times: “Sellers are Growing Desperate”
An article in today’s Seattle Times goes nicely with Mr. Cohen’s article in the P-I a couple days ago. More sellers are growing desperate as homebuying stalls locally I especially like the first part of the subtitle text (emphasis mine): The Puget Sound area housing market, supposedly immune to the forces pulling down others across…
WaMu Failure: What it Means for Seattle
From today’s Seattle Times: Feds seize WaMu in nation’s largest bank failure WaMu’s 43,200 employees won’t feel any immediate impact, though it’s likely JPMorgan will drastically shrink the thrift’s headquarters staff. More than 3,500 people work at WaMu’s 42-story headquarters at Second Avenue and Union Street, along with 800 people elsewhere in Seattle and 1,500…
Lawrence Yun Changes His Tune on Seattle
Remember about four months ago, when NAR Chief “Economist” Lawrence Yun said this? You may even say Seattle is underpriced if you believe Seattle is becoming a superstar city. Seattle is underpriced in relation to other West Coast markets. Well, it seems he has changed his tune ever so slightly. Here’s a more recent quote,…
Housing Crisis Not Over, Just Starting in Seattle
A couple people pointed out a piece in the Wall Street Journal yesterday titled The Housing Crisis Is Over. I don’t doubt that the mere fact that it was printed in the WSJ makes it gospel to some folks. I am not interested in writing a rebuttal to this piece, as that has already been…