{"id":840,"date":"2007-06-11T10:32:56","date_gmt":"2007-06-11T17:32:56","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/2007\/06\/11\/forbes-seattle-has-already-hit-bottom\/"},"modified":"2010-04-07T09:23:06","modified_gmt":"2010-04-07T16:23:06","slug":"forbes-seattle-has-already-hit-bottom","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2007\/06\/11\/forbes-seattle-has-already-hit-bottom\/","title":{"rendered":"Forbes: Seattle Has Already &#8220;Hit Bottom&#8221;"},"content":{"rendered":"<p>Sometimes you read something and it just makes you say &#8220;huh?!?&#8221;  An article in Forbes last week titled <a href=\"http:\/\/www.forbes.com\/realestate\/2007\/06\/07\/housing-trough-resilient-forbeslife-cx_mw_0608realestate.html\" title=\"Most Resilient U.S. Real Estate Markets\">Most Resilient U.S. Real Estate Markets<\/a> gave me just such a moment.  In it, Forbes writer Matt Woolsey attempts to predict the future, making some absolutely bizarre claims along the way:<\/p>\n<blockquote><p>When it comes to real estate, the questions on everyone&#8217;s lips are: How low is low, and when&#8217;s the perfect time to buy back in?  That moment has passed in Seattle and Charlotte\u2014both metros hit bottom in the first quarter of 2006 and have since posted price gains of 12.3% and 6.3%, respectively, according to National Association of Realtors (NAR) data.<\/p><\/blockquote>\n<p>Huh?!?  What kind of &#8220;bottom&#8221; did the Seattle market hit in the first quarter of 2006?  As far as I can tell, that was darn near the peak appreciation time.<\/p>\n<p>Among the &#8220;Most Resilient&#8221; markets highlighted in the article (links go to S&amp;P Case-Shiller Data): <a href=\"http:\/\/macromarkets.com\/csi_housing\/MSA\/phoenix.asp\" title=\"Case-Shiller Data\">Phoenix<\/a>, <a href=\"http:\/\/macromarkets.com\/csi_housing\/MSA\/las_vegas.asp\" title=\"Case-Shiller Data\">Las Vegas<\/a>, <a href=\"http:\/\/macromarkets.com\/csi_housing\/MSA\/san_diego.asp\" title=\"Case-Shiller Data\">San Diego<\/a>, <a href=\"http:\/\/macromarkets.com\/csi_housing\/MSA\/miami.asp\" title=\"Case-Shiller Data\">Miami<\/a>, <a href=\"http:\/\/macromarkets.com\/csi_housing\/MSA\/boston.asp\" title=\"Case-Shiller Data\">Boston<\/a>, and&#8230; wait for it&#8230; <a href=\"http:\/\/macromarkets.com\/csi_housing\/MSA\/detroit.asp\" title=\"Case-Shiller Data\">Detroit<\/a> (I kid you not).<\/p>\n<p>I just want to say&#8230;  Huh?!?<\/p>\n<p>(<em>Matt Woolsey, <a href=\"http:\/\/www.forbes.com\/realestate\/2007\/06\/07\/housing-trough-resilient-forbeslife-cx_mw_0608realestate.html\" title=\"Most Resilient U.S. Real Estate Markets\">Forbes<\/a>, 06.08.2007<\/em>)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sometimes you read something and it just makes you say &#8220;huh?!?&#8221; An article in Forbes last week titled Most Resilient U.S. Real Estate Markets gave me just such a moment. In it, Forbes writer Matt Woolsey attempts to predict the future, making some absolutely bizarre claims along the way: When it comes to real estate,&#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":[198],"tags":[89,190],"coauthors":[],"class_list":["post-840","post","type-post","status-publish","format-standard","hentry","category-news","tag-forbes","tag-woolsey"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Forbes: Seattle Has Already &quot;Hit Bottom&quot; \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\/06\/11\/forbes-seattle-has-already-hit-bottom\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Forbes: Seattle Has Already &quot;Hit Bottom&quot; \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"Sometimes you read something and it just makes you say &#8220;huh?!?&#8221; An article in Forbes last week titled Most Resilient U.S. Real Estate Markets gave me just such a moment. 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