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How long would Seattle/Eastside Continue to be Special?

AwaySoonerAwaySooner
edited April 2007 in Seattle Real Estate
I am not seeing price coming down at all. How long would we continue to be special? I really like this area, but if the housing here keep going up, I am going to have to end up leaving this area and move to Austin or something just to be able to raise a family.

Comments

  • snigletsniglet
    As I've said in some other threads, I am not expecting the Eastside real-estate market to crash until there is an all-out recession and the major Seattle employers (i.e. Microsoft and Boeing) start reporting declining earnings and revenues.

    Unfortunately, I think we are going to be the lagging indicator of the real-estate market. In the end, however, I think we will catch-up to the nation-wide malaise in short order, and will be hit just as badly as anywhere else.
  • AwaySoonerAwaySooner
    That's the catch 22 for me isn't it? Either way I am screwed cause I work at Microsoft.
  • georgegeorge
    Anything is possible but serious investors are taking the "lag" theory seriously. David Blitzer, managing director with Standard & Poor's, is one. As for how long it's going to take, see the charts on this post:

    http://seattlebubble.com/forum/viewtopi ... ight=#1055

    With the economic news out of a slowing US economy and a possible recession (and 'light' stagflation), the housing downturn here and everywhere could be a lot more serious:

    With economy at a crawl, fears of recession rise

    This will be good news for people waiting to buy a house, and terrible news for job seekers and many other investments.

    Personally, I think a nice rental, some recession-proof stocks and patience will be the key.
  • synthetiksynthetik
    As I've said in some other threads, I am not expecting the Eastside real-estate market to crash until there is an all-out recession and the major Seattle employers (i.e. Microsoft and Boeing) start reporting declining earnings and revenues.

    How did you come to this realization? Remember, the housing bubble and subsequent crash have had nothing to do with anything that you've said -- and will not in Seattle either. Nor Bellevue, Ballard or anywhere else for that matter.

    The recession is the result of the housing mania. When the recession hits here, it won't be the CAUSE of the housing market in Bellevue crashing.

    Nothing is special! Do some google searches on other markets. Everyone things their particular market is special.
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