{"id":16681,"date":"2011-08-18T10:32:51","date_gmt":"2011-08-18T17:32:51","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=16681"},"modified":"2011-08-18T10:32:51","modified_gmt":"2011-08-18T17:32:51","slug":"new-king-county-econ-blog-housing-is-risky-not-lousy","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2011\/08\/18\/new-king-county-econ-blog-housing-is-risky-not-lousy\/","title":{"rendered":"New King County Econ Blog: Housing is Risky, not Lousy"},"content":{"rendered":"

I received an email yesterday from Tom Goodwin, King County’s Chief Economist<\/a>, pointing me toward a new blog<\/a> that he has started to discuss economic issues in King County. The first topic: real estate.<\/p>\n

In his post, Is a Home a "Lousy" Investment?<\/a> Tom takes on the recent Wall Street Journal piece A Home Is a Lousy Investment<\/a>, arguing that this view is too simplistic.<\/p>\n

Tom’s 1,300-word post includes everything we love here at Seattle Bubble: graphs, tables, and detailed criticisms of underlying assumptions. His conclusion is sound, as well:<\/p>\n

…homeowner equity with a mortgage is an attractive but risky investment, in some ways more risky that the stock market because a family can lose all of their equity. As with the stock market, deciding whether it would be a good investment depends crucially on how long the family can hold onto the investment.<\/p><\/blockquote>\n

Of course, even buyers that plan to hold for a long time were making horrible investments in 2006 and 2007, but for a more “normal” market, I think Tom’s analysis is fair.<\/p>\n

Head on over to the new blog, read the whole post<\/a>, and drop them a comment. It’s good to see more level-headed local commentary on these types of issues. Best of luck, Tom!<\/p>\n","protected":false},"excerpt":{"rendered":"

I received an email yesterday from Tom Goodwin, King County’s Chief Economist, pointing me toward a new blog that he has started to discuss economic issues in King County. The first topic: real estate. In his post, Is a Home a "Lousy" Investment? 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