{"id":47,"date":"2005-09-15T22:18:00","date_gmt":"2005-09-16T05:18:00","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=47"},"modified":"2010-01-22T19:09:44","modified_gmt":"2010-01-23T03:09:44","slug":"real-estate-boom-beefs-up-state-income","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2005\/09\/15\/real-estate-boom-beefs-up-state-income\/","title":{"rendered":"Real Estate Boom Beefs Up State Income"},"content":{"rendered":"

The real estate blitz is having a noticeable effect on state revenue:<\/p>\n

Washington state’s surging economy, driven by a continuing construction boom and red-hot real estate market, will pump an additional $493 million into state coffers, forecasters said today.<\/p>\n

The good news – the third quarterly revenue surge in a row – brings the state’s reserves to over $1.1 billion.<\/p><\/blockquote>\n

Will the state be as blithe with the money as some local governments have been? Hopefully not, but what politician can resist spending money?<\/p>\n

[Washington State Chief Economist ChangMook]<\/i> Sohn said the sizzling housing market is responsible for nearly half of the latest windfall. But he cautioned that the pace will soon start slowing to a more normal rate.<\/p><\/blockquote>\n

It will be interesting to see if his advice is heeded.<\/p>\n

(David Ammons, AP (Seattle Times)<\/a>, 09.15.2005<\/i>)<\/p>\n","protected":false},"excerpt":{"rendered":"

The real estate blitz is having a noticeable effect on state revenue: Washington state’s surging economy, driven by a continuing construction boom and red-hot real estate market, will pump an additional $493 million into state coffers, forecasters said today. 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