small_far_ugly
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WOW. Soon you'll start seeing services popping up to help these people. I have no sympathy. They drove up my housing costs.
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I agree, what a joke. Another great example of this is the hype surrounding DELRIDGE. Seattle magazine this summer ran a bit of tripe calling that the hot new neighborhood. More than a little misleading. Delridge's surge in popularity isn't ref…
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I've also seen a house up north that I viewed around the 4th of July, and it was a little place going for $330k. It was disappointing in person, so I left it alone. It's been reposted on Craigslist so many times I stopped counting. I don't think …
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You are so right on. We were driving up in the North Seattle area and we were seeing so many of them we started counting; we saw five for the same development in probably a mile radius, and then we started pitching around theories of why this was g…
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Sorry, I don't buy that the banks are nearly as responsible as the borrowers. Banks are in the business of making money, and everybody knows it. Just because something is offered doesn't mean you are compelled to take it. There are any number …
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You're absolutely right. The flip side of that is that the market has defied common sense for a long time. Piece of crap ramblers, and some seriously beat down properties near the freeway going for $400k is simply dumb. And CA taught us that th…
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Good tip about Google cache. I run into relists all the time, and they would appear, if I'd just moved to Seattle from Omaha, to be brand new listings. I am fortunately someone with a pretty good memory, and can piece together how long it's been…
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Thanks for those replies. I'm looking more north, so Shoreline/Northgate are most of the locations. I've passed on some of the farther north ones, like Lake Forest Park or Mountlake Terrace (kind of equivalent to Kent/Auburn in terms of commute I …
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Oh, OK. Sarcasm doesn't come across easily in writing. And I got the bit about rents tracking incomes not from this thread, but from The Tim: http://pricedoutforever.com/learn.html Sniglet, you hit on a point that's pretty much been at the…
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I am shocked at how much rents are going up. $1000 a month??!! Wow, at that kind of spike, I would still say you'd be safer buying. The woman in QA's rent went up to over $2000 a month, a good % of what she'd pay in a mortgage. Here's the story: …
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See what 350 gets you in Minneapolis... http://minneapolis.craigslist.org/rfs/333011120.html http://minneapolis.craigslist.org/rfs/332900533.html (amazing!) Denver http://denver.craigslist.org/rfs/333171716.html http://denver.crai…
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Sounder, Im in the same situation...well into the 6 figures combined, got a down payment, but I simply won't pay $300-350k for a shack when I know what's available in Minneapolis. I'm sure you've looked around on Craigslist, it's an eye opener…
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Good question, I forgot to mention more about my background. I've lived here for 8 years or so, but I was a student most of that time and never had the money. I was in college at the time of the dotcom bust, and didn't graduate until prices starte…
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Oh, OK. Too rich for my blood, but more power to you fj.
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Why dump $2500, probably 90% of a mortgage payment, into a rental at all? Renting loses its benefit if it's as expensive as owning without the equity.
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Agreed, but when everyone is telling you that you should do it, can you blame them? Emphatically, yes. I do blame them. I don't buy into the idea that these poor people were preyed upon by evil lenders. They were complicit in their downfal…
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You're right, greed has played into every major market bubble. And the guys who buy at the peak are caught up in a special brand of greed -- it reminds me of when I was a kid playing baseball. I'd sometimes see a perfect, slow changeup coming righ…
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Maybe these are the Californians that are going to keep our market high. Another possibility is that the California markets deflating, as is happening in San Diego and beginning in San Francisco, for example, might prompt the Californians who…
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Great post. I'd say emotion is the biggest thing. There's social pressure involved. I rent. We make good money, and it seems like there's a housewarming party around us every 15 minutes. Everyone I work with has bought a house within the last…
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But isn't that only true if you plan to live in the house for the rest of your life. I would guess that most homeowners do not plan to live in a house for the rest of their life, or even through the entire life of the mortgage. Not necessaril…
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That actually doesn't surprise me at all, but it's interesting to see it laid out like that. Just put logic to it: If housing consistently shot up greater than the inflation rate, like the bulls say it does, then we'd have reached unaffordability a…
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I don't put much by the rent vs buy calculations, because they all compare for 30 years. I'm 30 now -- so let's say I plan to live until 85. Any real calculation has to be 30 years for owning, and 55 years for renting. I think there's a certain…
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Wow, interesting article. I wonder what the demographics of the PNW are, comparatively...Does anybody know if we're looking at large numbers of 55+ year olds, or is it a young/middle aged city? One thing in this article that caught my eye was th…
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Wow, I think it's really hard to ascribe a timetable to it since none of us know what's going to happen. I havea hard time saying I'm going to do it in X years. I'm going to keep an eye on the median home prices and interest rates. If either one …
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OMG.....I'm a renter, but I think that would be terrible. Entertaining, but terrible. I think prices need to come down, sure, but not in quite so manufactured a way. I think that the proposed show misses the point -- prices aren't too high becaus…