{"id":745,"date":"2007-04-01T00:26:00","date_gmt":"2007-04-01T07:26:00","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=745"},"modified":"2013-04-04T15:50:33","modified_gmt":"2013-04-04T22:50:33","slug":"seattle-bubble-concedes-defeat","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2007\/04\/01\/seattle-bubble-concedes-defeat\/","title":{"rendered":"Seattle Bubble Concedes Defeat"},"content":{"rendered":"<p>Well everyone, it&#8217;s been a fun couple of years, but the time has finally come for Seattle Bubble to throw in the towel.<\/p>\n<div style=\"margin: 5px 5px 5px 0; float: left; font-size: 75%; text-align: center; border: 1px solid #000000; width: 208px;\"><a href=\"http:\/\/flickr.com\/photos\/paulcam\/49428162\/\" title=\"rainbow1 on Flickr\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2007\/04\/seattle_rainbow.jpg\" width=\"208\" height=\"250\" border=\"0\" alt=\"Seattle: magical rainbow fantasy land\" title=\"Seattle: magical rainbow fantasy land\" \/><\/a><br \/>\n<a href=\"http:\/\/flickr.com\/photos\/paulcam\/49428162\/\" title=\"rainbow1 on Flickr\" style=\"font-weight: normal;\">Paul Campbell<\/a>, <!--a href=\"http:\/\/creativecommons.org\/licenses\/by-nc-sa\/2.0\/\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/timothyellis.googlepages.com\/cc_icon_attribution_small.gif\" width=\"15\" height=\"15\" alt=\"Attribution\" title=\"Attribution\" border=\"0\" \/><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/timothyellis.googlepages.com\/cc_icon_noncomm_small.gif\" width=\"15\" height=\"15\" alt=\"Noncommercial\" title=\"Noncommercial\" border=\"0\" \/><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/timothyellis.googlepages.com\/cc_icon_sharealike_small.gif\" width=\"15\" height=\"15\" alt=\"Share Alike\" title=\"Share Alike\" border=\"0\" \/><\/a--><a href=\"http:\/\/creativecommons.org\/licenses\/by-nc-sa\/2.0\/\" style=\"font-weight: normal;\">Some rights reserved.<\/a><\/div>\n<p>We&#8217;ve analyzed the local market from every conceivable direction, explained all the logical reasons why today&#8217;s Seattle home prices are not sustainable, watched the national housing market turn from <a href=\"http:\/\/en.wikipedia.org\/wiki\/Image:Time_Magazine_June_13_2005_Cover.jpg\" title=\"Time Magazine: Home $weet Home\" rel=\"lightbox[745]\">boom<\/a> to <a href=\"http:\/\/www.marketwatch.com\/news\/story\/home-prices-go-negative-first\/story.aspx?guid=%7B30B54985-2189-4AE9-B8E5-ECF89F6095F3%7D&#038;dist=\" title=\"Home prices go negative for first time in 11 years\">bust<\/a>, but still the home price increases in Seattle carry on.  At this point, there is only one logical explanation why home prices in Seattle have not fallen: <b>Seattle truly is <i>incredibly<\/i> special<\/b>.<\/p>\n<p>Of course, I don&#8217;t just mean &#8220;special&#8221; as in &#8220;isn&#8217;t it nice to live in a place with such delightful weather, exciting sports teams, and enlightened liberal politics that have solved all of our social problems.&#8221;  Sure, those things are great, but lots of cities can make the same claims (San Francisco, New York, etc.).  No, in order to <i>truly<\/i> understand why real estate prices in Seattle will <b>never<\/b> go down, one must consider <i>so much more<\/i>.<\/p>\n<p>Indisputable facts that make Seattle the most specialest place on the planet:<\/p>\n<ul>\n<li>Every single house sold has stunning views of Mount Rainer, The Olympics, Puget Sound, and at least three lakes.<\/li>\n<li>The Microsoft money factory in Redmond runs non-stop, printing millions of hundred-dollar bills every hour, which are loaded into Boeing planes and dropped from the sky daily, scattering the free money to all homeowners.<\/li>\n<li>Every homeowner is issued a brand new pretty pink pony at closing. <span style=\"font-size: 85%;\">(<a href=\"http:\/\/seattlebubble.blogspot.com\/2007\/03\/spot-fundamentals.html#comment-816834272458993401\" title=\"Comment to: Spot the Fundamentals\" style=\"font-weight: normal;\">Thanks, Chris<\/a>)<\/span><\/li>\n<li>\n<div style=\"margin: 5px 0 5px 5px; float: right; font-size: 0.8em; text-align: center; border: 1px solid #000000; width: 200px; height: 181px;\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2007\/04\/girl-and-pony.jpg\" width=\"200\" height=\"181\" border=\"0\" alt=\"Ponies for EVERYONE!\" title=\"Ponies for EVERYONE!\" \/><\/div>\n<p>The waters of all the rivers and lakes contain healing powers that extend life indefinitely, thus allowing homeowners to take on increasingly longer-term loans.  This will inevitably lead to the &#8220;forever loan,&#8221; in which principal is never paid down, only interest paid, while the homeowner merely kicks back and enjoys the unending benefits of double-digit appreciation.<\/li>\n<li>Ballard.<\/li>\n<li>Thanks to Growth Management, not only is it true that &#8220;they&#8217;re not making any more land,&#8221; but in Seattle, the available land is actually <i>shrinking<\/i> daily!  By 2050, the only buildable land will be within a five-block radius of the Space Needle.  2,000-story ultra-luxury condos will be erected, which will range in cost from $500 trillion dollars for a 50 square foot &#8220;sleep pod&#8221; to $42 septillion for the 500 square foot &#8220;presidential suite.&#8221;<\/li>\n<li>Stunning rainbows fill the sky <b>every<\/b> afternoon (see above).<\/li>\n<\/ul>\n<p>Yes, Seattle is truly one in a million. One in a billion. One in a googolplex.  With inventory at near-record lows and pending sales increasing <i>over thirty-four percent<\/i> from January to February, it&#8217;s plain to see that there&#8217;s no stopping Seattle&#8217;s <a href=\"http:\/\/seattlebubble.blogspot.com\/2006\/10\/didnt-buy-their-ticket-on-last.html\" title=\"&quot;...didn't buy their ticket on the last spaceship flight off a planet that's about to explode.&quot;\">equity spaceship<\/a>.  Of course, all you really need look at is how much prices have appreciated in just the last year (11%, thank you very much) to realize just how special Seattle is.<\/p>\n<p>It is time for this blogger to face the facts: Seattle home ownership is <i>the<\/i> path to indescribable happiness and untold riches.  That&#8217;s why I&#8217;m closing this blog, quitting my job, becoming a full-time Seattle-area home buyer, and recommending that all my readers do the same.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Well everyone, it&#8217;s been a fun couple of years, but the time has finally come for Seattle Bubble to throw in the towel. Paul Campbell, Some rights reserved. We&#8217;ve analyzed the local market from every conceivable direction, explained all the logical reasons why today&#8217;s Seattle home prices are not sustainable, watched the national housing market&#8230;<\/p>\n","protected":false},"author":2,"featured_media":26142,"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":[205,206],"tags":[90,102,152],"coauthors":[],"class_list":["post-745","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-humor","category-features","tag-seattle_is_special","tag-april-1st","tag-pink-ponies"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Seattle Bubble Concedes Defeat \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\/2007\/04\/01\/seattle-bubble-concedes-defeat\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Seattle Bubble Concedes Defeat \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"Well everyone, it&#8217;s been a fun couple of years, but the time has finally come for Seattle Bubble to throw in the towel. 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