{"id":17040,"date":"2011-09-16T11:20:57","date_gmt":"2011-09-16T18:20:57","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=17040"},"modified":"2011-10-21T10:09:34","modified_gmt":"2011-10-21T17:09:34","slug":"friday-flashback-were-protected-from-the-bubble","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2011\/09\/16\/friday-flashback-were-protected-from-the-bubble\/","title":{"rendered":"Friday Flashback: “We’re Protected” from the Bubble"},"content":{"rendered":"

Here’s a gem of an article from the Seattle Times, December 2006:<\/p>\n

Looking ahead: The sky isn’t falling for the Puget Sound market<\/strong><\/a><\/p>\n

What will 2007 bring? Here’s what Seattle real-estate experts are saying.
\n…
\nSo much for any bubble bursting this year.<\/p>\n

Gardner doesn’t see that happening next year, either.<\/p>\n

“This bubble lunacy is still prevalent, but not in Seattle, and I’ll keep saying that,” said Gardner, of the land-use economics firm Gardner Johnson. “All the fundamentals are in place for good job growth and in-migration. That, and our limited land availability, means we’re protected and will continue to appreciate in value.”<\/p><\/blockquote>\n

But, but… we were protected! The “experts” assured us! Limited land! Job growth! Fundamentals!<\/p>\n

The national news has been full of stories about homebuilders cutting production and prices as the real-estate market cools. In November, for example, building permits nationwide fell to a nine-year low, according to a government report.<\/p>\n

“But that’s the national news, not the local news,” said Suzanne Britsch, senior analyst for New Home Trends, a construction-analysis and consulting firm in Mill Creek. “We still have job growth and a shortage of lots here, so we have just not had a problem with standing inventory.”<\/p><\/blockquote>\n

All those stupid national headlines. If only we had ignored them and just closed our eyes and wished harder, maybe home prices would have kept appreciating.<\/p>\n

If you’re interested, here’s the post we wrote about this article at the time, penned by Synthetik: Always Trust The ‘Experts’<\/a><\/p>\n

The purpose of our Friday Flashback series<\/a> is to remind people why it’s never a good idea to base your home purchase decisions on the word of someone with a vested financial interest in selling as many homes as possible for as much as possible, no matter what. If you’ve got a good example of local home salespeople or other industry shills on record making fools of themselves in the years before the bubble burst, shoot me an email<\/a>.<\/div>\n","protected":false},"excerpt":{"rendered":"

Here’s a gem of an article from the Seattle Times, December 2006: Looking ahead: The sky isn’t falling for the Puget Sound market What will 2007 bring? Here’s what Seattle real-estate experts are saying. … So much for any bubble bursting this year. Gardner doesn’t see that happening next year, either. “This bubble lunacy is…<\/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":[206],"tags":[639,415,638,144,414,3,31],"coauthors":[],"class_list":["post-17040","post","type-post","status-publish","format-standard","hentry","category-features","tag-639","tag-britsch","tag-friday-flashback","tag-gardner","tag-new-home-trends","tag-rhodes","tag-seattle_times"],"yoast_head":"\nFriday Flashback: "We're Protected" from the Bubble \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\/2011\/09\/16\/friday-flashback-were-protected-from-the-bubble\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Friday Flashback: "We're Protected" from the Bubble \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"Here’s a gem of an article from the Seattle Times, December 2006: Looking ahead: The sky isn’t falling for the Puget Sound market What will 2007 bring? 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