Let’s play a game. It’s called “Spot the Fundamentals,” and the way we play it is by looking at some of the “fundamentals” to figure out which ones are responsible for our area’s high home prices.<\/p>\n
The frequent condescending argument of the cadre of Seattle area housing bulls (real estate agents, “analysts,” the press, and increasingly combative blog commenters—whom I suggest we all ignore<\/span>) is that unlike most of the rest of the nation, Seattle home prices are firmly supported by strong fundamentals<\/span> such as exceptional job growth, high-paying jobs, and increasing population, and as such will not<\/b> decline.<\/p>\n Let’s play “Spot the Fundamentals” to see how well that claim holds up.<\/p>\n