{"id":5968,"date":"2009-06-17T13:36:58","date_gmt":"2009-06-17T20:36:58","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=5968"},"modified":"2011-02-14T16:06:12","modified_gmt":"2011-02-15T00:06:12","slug":"revisiting-jim-cramers-2007-prediction-for-seattle-real-estate","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2009\/06\/17\/revisiting-jim-cramers-2007-prediction-for-seattle-real-estate\/","title":{"rendered":"Revisiting Jim Cramer&#8217;s 2007 Prediction for Seattle Real Estate"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2009\/06\/cramer-bobblehead-sm.jpg\" alt=\"Jim Cramer\" title=\"Jim Cramer\" width=\"130\" height=\"200\" style=\"float:right; border:0;\" \/><a href=\"http:\/\/seattlebubble.com\/blog\/2007\/10\/01\/cramer-vs-shiller-is-seattle-immune\/\" title=\"Cramer vs. Shiller: Is Seattle Immune?\">Jim Cramer, September 2007<\/a>:<\/p>\n<blockquote><p>Don\u2019t you dare buy a home now. You will lose money.<\/p>\n<p><span style=\"font-style:italic;\">[Real estate agents complain, insist that real estate is regional, and there are some places where it is a good time to buy.  Cramer responds&#8230;]<\/span><\/p>\n<p>Seattle, and 10005 are the only two. Maybe Montgomery County in Maryland. Three. That\u2019s it.<\/p><\/blockquote>\n<p>So, according to Jim Cramer, September 2007 was a good time to buy a home in Seattle.  Everywhere else, home buyers were setting themselves up to lose money, but not in Seattle.<\/p>\n<p>Let&#8217;s have a quick check on how that&#8217;s turning out.<\/p>\n<blockquote><p><b>September 2007<\/b><br \/>\nKing County median SFH price: $450,000<br \/>\nYOY appreciation: +5.9%<\/p>\n<p><b>May 2009<\/b> <em>(20 months later)<\/em><br \/>\nKing County median SFH price: $375,000<br \/>\nYOY appreciation: -14.8%<br \/>\nTotal price change: -16.7%<\/p><\/blockquote>\n<p>Whoops.  And for those of you keeping score at home, the drop in Seattle&#8217;s Case-Shiller HPI was even more steep, falling 22.2% from September 2007 through March 2009 (the latest data available).  In other words, if you bought a Seattle-area home in September 2007 with 20% down, your &#8220;investment&#8221; is now most likely completely gone.<\/p>\n<p>Not that anyone really thought that Jim Cramer had any credibility (anymore\/ever) anyway, but it&#8217;s certainly entertaining to revisit proclamations like this once in a while.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jim Cramer, September 2007: Don\u2019t you dare buy a home now. You will lose money. [Real estate agents complain, insist that real estate is regional, and there are some places where it is a good time to buy. Cramer responds&#8230;] Seattle, and 10005 are the only two. Maybe Montgomery County in Maryland. Three. That\u2019s it&#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":[206],"tags":[163,14],"coauthors":[],"class_list":["post-5968","post","type-post","status-publish","format-standard","hentry","category-features","tag-cramer","tag-predictions"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Revisiting Jim Cramer&#039;s 2007 Prediction for Seattle Real Estate \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\/2009\/06\/17\/revisiting-jim-cramers-2007-prediction-for-seattle-real-estate\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Revisiting Jim Cramer&#039;s 2007 Prediction for Seattle Real Estate \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"Jim Cramer, September 2007: Don\u2019t you dare buy a home now. 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