{"id":46,"date":"2005-09-13T08:39:00","date_gmt":"2005-09-13T15:39:00","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=46"},"modified":"2005-09-13T08:39:00","modified_gmt":"2005-09-13T15:39:00","slug":"how-long-can-huge-price-gains-continue","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2005\/09\/13\/how-long-can-huge-price-gains-continue\/","title":{"rendered":"How Long Can Huge Price Gains Continue?"},"content":{"rendered":"

To me it’s not a question of whether or not the ridiculous price gains of recent years will continue, but rather how long<\/i> will they continue? Though other parts of the country have shown some signs of slowing, in the Seattle area the answer is apparently “a little longer.”<\/p>\n

King County’s home price increase means the median home cost $385,000 in August — $56,000 more than the median home cost in August 2004, according to figures released on Monday by the Northwest Multiple Listing Service.<\/p><\/blockquote>\n

That’s a 17 percent year on year increase.<\/p>\n

In Snohomish County, the median price of homes soared 23 percent to $296,725, while the figure for single-family houses soared 24 percent to $311,525, the first time it has climbed above $300,000.<\/p><\/blockquote>\n

Yowza. Considering that even by semi-rational financial standards, my wife and I shouldn’t spend much more than $240,000 for a home, it looks like we’ll be continuing to rent for a while.<\/p>\n

Maybe the bubble non-believers are right, and prices will never drop. Maybe we missed the time to “buy now before it’s too late” and we’ve been priced out forever. I rather doubt it though.<\/p>\n

(Kristen Millares Bolt, Seattle P-I<\/a>, 09.13.2005<\/i>)
(Bill Kossen, Seattle Times<\/a>, 09.13.2005<\/i>)<\/p>\n

\n
Seattle Bubble Tip Jar<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

To me it’s not a question of whether or not the ridiculous price gains of recent years will continue, but rather how long will they continue? 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