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Business Week says Seattle is ok. Phew

deejayohdeejayoh
edited August 2007 in Seattle Real Estate
Anyone recognize the city in the picture? Business Week says we are all ok.

Source=NAR... I'm surprised they didn't add a quote from Lawrence Yun just to add some more credibility. Note that there are NO unemployed people visible in the picture.


bizweekzn1.png

Comments

  • rose-colored-coolaidrose-colored-coolaid
    I don't see Tacoma or Everett or Olympia in that picture either. Nor do I see the south side (Tim's article a couple days ago covered how the fall-off in the south appears to be pushing up median measurements).

    <shrug>
  • aldrethaldreth
    What a joke. The market up here will realize they aren't immune and the housing crash will be a lot worse, whenever it does come.
  • financefinance
    This article is totally true...relative to the entire Real Estate industry Seattle is one of the stronger markets. Instead of declining 10% like the rest of the nation we might only decline by 5%, thus we are one of the stronger markets, lol.

    I do believe this market is overvalued, but Im an optimist at heart yet wishing prices higher only goes so far...Im also a realist and can see how markets react (Supply & Demand always catch up to reality of any market in the long run, its the short run fluctuations that skew things).
  • perfectfireperfectfire
    Let me fix that for ya.
    finance wrote:
    Instead of declining 60% like the rest of the nation we might only decline by 40%, thus we are one of the stronger markets, lol.
  • SeattleMooseSeattleMoose
    We have the following to protect us from the contagion that is sweeping the rest of the country who will suffer 50% cuts or worse:

    1) The Zune
    2) Vista
    3) Starbucks
    4) Boeing (nobody EVER cancels AP orders)
    5) Nordstrom
    6) Hordes of 3rd party SW companies

    See we have the kind of products that will be absolutely critical for people standing in soup lines.

    Our homes will be the only ones in the country that are still at "top of bubble prices", which means EVERYONE will want to move here with all the money they made from having the value of THEIR homes cut in half.

    Seattle is immune!!!

    It is a great time to buy!!! :twisted:
  • rose-colored-coolaidrose-colored-coolaid
    SeattleMoose wrote:
    Our homes will be the only ones in the country that are still at "top of bubble prices", which means EVERYONE will want to move here with all the money they made from having the value of THEIR homes cut in half.

    1) Buy House.
    2) Foreclose.
    3) ...
    4) Profit!

    And for the record, if prices never decline, it disproves it was ever a bubble. You should replace "top of bubble prices" with "permanently high plateau prices"
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