{"id":135,"date":"2006-01-30T11:22:00","date_gmt":"2006-01-30T18:22:00","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=135"},"modified":"2011-07-01T11:14:26","modified_gmt":"2011-07-01T18:14:26","slug":"northwest-economist-slow-deflation-coming","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2006\/01\/30\/northwest-economist-slow-deflation-coming\/","title":{"rendered":"Northwest Economist: "Slow Deflation" Coming"},"content":{"rendered":"

Tom Cox, a “prominent Northwest economist” and host of the PBS program “Serious Money,” gives the Northwest a “mostly sunny” economic forecast, but with a notable exception regarding housing<\/a>:<\/p>\n

The Northwest will continue to see an influx of people, particularly from California, seeking the region’s relatively well-paid jobs.<\/p>\n

But don’t expect a steady flow of new residents to continue the sound’s fast rise in home prices, Cox advised.<\/p>\n

“The bubble’s not going to burst,” he said. “But we’re going to have a slow deflation.”<\/p>\n

While the future of the region’s economy looks rosy, Cox stressed that the Northwest is not immune to national trends.<\/p>\n

He said “consumers are tapped out” by credit card debt, second mortgages and other overspending habits.<\/p>\n

“There were more bankruptcies than college degrees over the last few years,” he said. “Credit’s stretched tighter than Joan River’s neck. I think the day of reckoning is upon us.”<\/p><\/blockquote>\n

It is nice to hear that someone out there actually sees something other than champagne and roses in the future of housing. I guess the realtors didn’t pay this guy enough money *wink*<\/em>.<\/p>\n

(Tristan Baurick, Bainbridge Island Review<\/a>, 01.28.2006<\/em>)<\/p>\n","protected":false},"excerpt":{"rendered":"

Tom Cox, a “prominent Northwest economist” and host of the PBS program “Serious Money,” gives the Northwest a “mostly sunny” economic forecast, but with a notable exception regarding housing: The Northwest will continue to see an influx of people, particularly from California, seeking the region’s relatively well-paid jobs. But don’t expect a steady flow of…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[1113],"coauthors":[],"class_list":["post-135","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-uncategorized"],"yoast_head":"\nNorthwest Economist: "Slow Deflation" Coming \u2022 Seattle Bubble<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/seattlebubble.com\/blog\/2006\/01\/30\/northwest-economist-slow-deflation-coming\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Northwest Economist: "Slow Deflation" Coming \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"Tom Cox, a “prominent Northwest economist” and host of the PBS program “Serious Money,” gives the Northwest a “mostly sunny” economic forecast, but with a notable exception regarding housing: The Northwest will continue to see an influx of people, particularly from California, seeking the region’s relatively well-paid jobs. 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