{"id":449,"date":"2006-11-22T11:31:00","date_gmt":"2006-11-22T18:31:00","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=449"},"modified":"2006-11-22T11:31:00","modified_gmt":"2006-11-22T18:31:00","slug":"wcrer-affordability-continues-to-drop","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2006\/11\/22\/wcrer-affordability-continues-to-drop\/","title":{"rendered":"WCRER: Affordability Continues To Drop"},"content":{"rendered":"<p>The Washington Center for Real Estate Research (<a href=\"http:\/\/www.cb.wsu.edu\/~wcrer\/\" title=\"Washington Center for Real Estate Research\">WCRER<\/a>)has released their latest affordability statistics.  Unsurprisingly, home affordability in King County dropped yet again, reaching a new low of 69.2.  Here&#8217;s your latest graph of WCRER&#8217;s index since 1994:<\/p>\n<div style=\"margin: 5px auto; font-size: 0.8em; text-align: center;\"><a href=\"http:\/\/photos1.blogger.com\/blogger\/2906\/550\/1600\/WCRER_Affordability_2006Q3.png\" title=\"WCRER Affordability Index (1994 to Present) - Click to enlarge\" rel=\"lightbox[449]\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/photos1.blogger.com\/blogger\/2906\/550\/400\/WCRER_Affordability_2006Q3.png\" style=\"border: 1px solid #000000; margin: 5px;\" title=\" - Click to enlarge\" alt=\"WCRER Affordability Index (1994 to Present)\" width=\"400\" height=\"265\"><\/a><br \/><a href=\"http:\/\/photos1.blogger.com\/blogger\/2906\/550\/1600\/WCRER_Affordability_2006Q3.png\" title=\"WCRER Affordability Index (1994 to Present) - Click to enlarge\" rel=\"lightbox[449]\">Click to enlarge<\/a><\/div>\n<p>The decline in affordability from Q2 to Q3 was relatively minor, due to lower interest rates in Q3, combined with a smaller increase in the price of homes than previous quarters.<\/p>\n<p>WCRER Director Glen Crellin is quoted in the <a href=\"http:\/\/seattlepi.nwsource.com\/local\/6420AP_WA_Washington_Real_Estate.html\" title=\"Washington home sales slide continues, but median prices still up\">Associated Press article about these latest figures<\/a> as saying &#8220;home ownership depends on the ability to purchase the first home, and too often that is more a dream than a reality.&#8221;  First time buyer affordability in King County also reached a new low, coming in at 38.8 for the quarter.  In a &#8220;normal&#8221; market in King County, first time buyer affordability tends to be in the 60&#8217;s.  If first-time buyers really do get <i>priced out forever<\/i>, who will existing homeowners sell their homes to when they want to upgrade?<\/p>\n<p>I don&#8217;t see how this trend can possibly continue for much longer.<\/p>\n<p>(<i>Nicholas K. Geranios, AP via <a href=\"http:\/\/seattlepi.nwsource.com\/local\/6420AP_WA_Washington_Real_Estate.html\" title=\"Washington home sales slide continues, but median prices still up\">Seattle P-I<\/a>, 11.22.2006<\/i>)<\/p>\n<div class=\"blogger-post-footer\">\n<div style=\"margin: 0 auto; padding: 2px; font-size: 12px; width: 150px; text-align: center; border: 1px dashed #4386ce; background-color: #D5E2F1;\"><a href=\"https:\/\/www.paypal.com\/xclick\/business=paypal%40timandjeni.com&#038;no_note=1&#038;tax=0&#038;currency_code=USD&#038;lc=US&#038;item_name=Seattle%20Bubble%20Donation\" title=\"Seattle Bubble Tip Jar\">Seattle Bubble Tip Jar<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Washington Center for Real Estate Research (WCRER)has released their latest affordability statistics. Unsurprisingly, home affordability in King County dropped yet again, reaching a new low of 69.2. Here&#8217;s your latest graph of WCRER&#8217;s index since 1994: Click to enlarge The decline in affordability from Q2 to Q3 was relatively minor, due to lower interest&#8230;<\/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-449","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>WCRER: Affordability Continues To Drop \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\/11\/22\/wcrer-affordability-continues-to-drop\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"WCRER: Affordability Continues To Drop \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"The Washington Center for Real Estate Research (WCRER)has released their latest affordability statistics. Unsurprisingly, home affordability in King County dropped yet again, reaching a new low of 69.2. 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Unsurprisingly, home affordability in King County dropped yet again, reaching a new low of 69.2. 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