No worries, folks, Richard Hagar sez that Seattle IS special
On KPLU this morning at 8:35am I listened to an interview with local RE cheerleader Richard Hagar (website: http://www.richardhagar.com/) and we have been needlessly wringing our hands for nothing.
Here's a summary of what he said:
We've seen about a 10% increase in property values over the first six months of this year, and in the future, RE prices will NOT go down (although they may 'moderate'). So all of you reporting 'price reduced' signs in your neighborhoods, you must be bitter, delusional doom-n'-gloomers.
It's the economy, stupid! Our strong economy will keep prices up.
EVERYBODY is moving to WA state! We have net in-migration of 8300 people per month, and they've all got to live somewhere, and we're not building enough houses for them.
He was asked if it's still a good time to buy 'investment' homes, second and third homes, and he replied "Yes, of course!" All of these new arrivals have to live somewhere, so get out there, buy 2-3-4 houses, and rent them out!
No mention of Pink Ponies, however . . .
I did notice that the bad RE news happening in the non-Seattle parts of our country actually made it to the front page of the the Sunday P-I, and I'll leave that for a post from The Tim to cover.
Here's a summary of what he said:
We've seen about a 10% increase in property values over the first six months of this year, and in the future, RE prices will NOT go down (although they may 'moderate'). So all of you reporting 'price reduced' signs in your neighborhoods, you must be bitter, delusional doom-n'-gloomers.
It's the economy, stupid! Our strong economy will keep prices up.
EVERYBODY is moving to WA state! We have net in-migration of 8300 people per month, and they've all got to live somewhere, and we're not building enough houses for them.
He was asked if it's still a good time to buy 'investment' homes, second and third homes, and he replied "Yes, of course!" All of these new arrivals have to live somewhere, so get out there, buy 2-3-4 houses, and rent them out!
No mention of Pink Ponies, however . . .
I did notice that the bad RE news happening in the non-Seattle parts of our country actually made it to the front page of the the Sunday P-I, and I'll leave that for a post from The Tim to cover.