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WOW! It seems you pessimists are quite serious with your predictions, yet I wouldnt discount the American drive to get through situations and invent new ways around problems...we always have in the past! Overall they say all real estate is local…
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Eleua - There has never been a market in the US history that has had a 50% price decline for a general area...so what makes you think it will happen in Seattle??? Currently the apt vacancy rate is less than 3% in Seattle, with housing so tight (h…
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mike2 - It is $40/hr w/o benefits...however the contracting agency throughs in some vacation and other small bonus things. Overall I dont pay much for Ins (since Im young & a high deductible plan). Not sure what the FT position pays, but pro…
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mike2 - I was being sarcastic about the college...yet still unofficially looking for someone to take over my position at At&T. It is probably a mid career position (yet I have only been out of college for 3 years from WSU making $40/hr). They …
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Nobody makes it there...your right, but isnt that the point, lol. EconE - You are right about much of the poor in America, yet even a min wage job would bring in 2080 X $5.25 = $10,920 which is about 4 times the $2,555 amt that was quoted.
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Did they have any chocolate pink ponies in there?
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synthetik - Im trying to learn humility (not being an arrogant bastard)...but its taking awhile, yet starting to see positive signs. Its a be-atch though sometimes because I know that Im giving up an easygoing job that pays extremely well for a low…
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The ironic part is that I got another job offer from a company I prefer to work for, and going to leave in 2 months. How about that for irony, lol. However the new company is in the industry I want to work in (Im becoming a RE Agent...ok not rea…
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If it stated that 1 in 5 Americans make less than $7 per day I might belive it as infants and children under the age of 16 probably make up ~20% of the US population...thus the proposed typo in the article. At least thats the only rational way I …
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aldreth - Whats your point about this article??? It belongs on the misc section as this is the "Housing Bubble" Section. I call BS on the statement that 20% (60 million) of Americans live on less than $7 a day when there is a robust Welfare syst…
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perplexd is correct on this issue about Banking, as I used to work for a bank and was amazed at how the ponzi scheme worked! Banks only have to keep ~5% of deposits in reserves (mandated by the FED). However most keep an additional 1%-2% for liq…
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EconE - I will neither confirm nor deny which building I live in, yet do know where both of the buildings you talk about are located. I plan to live in my condo for 2 years (depending on when I need more space to live), then rent it out for 3 yea…
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Matthew - In my condo building (built in 2001, converted to condos in 2006) right behind the convention center (on First Hill) about 6 of the 75 units have resold in the past year (not too bad, at least 4 were for job relocation reasons that I know …
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Mike2 - In Seattle we are at such historical lows for Unemployment that it will fluctuate within a range...however there was a net increase of 3200 jobs (along with 400 more contruction jobs) in the city of Seattle. Over the past several months I…
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synthetik - How did you guess what I did for a living, lol? Ok, really I work at AT&T as a contract worker right now, yet just got a job offer downtown Seattle (0.50 miles) from my condo. Its a great job ($$$) and will be starting there at th…
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The negative savings rate has been overblown, as it doesnt take alternative investments into account, gold & other commodities, investments in many different tax advantage types of foriegn countries. Also doesnt take into account home equity, w…
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Silly Rabbit, Your post says US Home Sales...we all know Seattle is Special, so it doesnt apply to us. On a side note: Check out Tim's charts. Looks like inventory is rising, yet sales havent dropped off...which would cause market problems. Ove…
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george - "Yes, technically, but what really matters is the discounted cash flow. So you need to know what the rental property would sell for today so we can calculate the discount rate. Right?" Not exactly. DCF is calculated on your current Fr…
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george - "Exactly...and on this point: rents so far have barely kept up with inflation. So starting from today, 15 percent of next to nothing ROI is still next to nothing ROI. Remember to calculate that ROI based on what you would get if you sold th…
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Unemployment is a lagging growth indicator, yet is still declining...better than a sharp stick in the eye. However, a lower unemployment rate also is a leading indicator of business spending (on labor) since businesses spend a considerable amount…
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Actually the 3.8% is in the Seattle Region. The good news is that the economy in the Seattle-Bellevue-Everett area is actually improving instead of slowing down. You can make your own conclusions, yet this cant be bad for the Residential or Commer…
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I have been doing the same thing on zipreality.com. I still look at condos from $150 - $250 and have noticed that the inventory numbers declinding...yet suspect that over the past year it was due to the floor rate of condos increaseing above the $2…
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Im currently interviewing for jobs at Russell in Tacoma and Marsh in Seattle...along with some others Over the past year I have seen salaries for Financial Analysts increase signficantly. Just reference Salary.com. From April to May the median sa…
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squidier - That is a great article and like how it puts things in perspective! What does anyone think the next bubble will be? Time to get in early since most of you missed the last bubble, lol...Real Estate that is. No really, I want to hear w…
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Deejoyoh - I totally agree with you about Paul Allen and the "accidental billionare" statement. Almost anything he touches is barely profitable at best. I have heard that the only investments that really succeed are the ones that he barely has a s…
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The key difference currently for the stock market valuation is that the P/E ratio for the S&P500 is about 17.5 or the avg over the past 20 years...so overall the market is about fair market value. Thus it is not significantly overvalued, if at …
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At least he is putting his money where his mouth is...starting up a business in the RE industry.
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LHR - I didnt mean to insult you personally in any way (I was being a little abrasive). It was more of having such a subjective and narrow sample. One way I look at houses and inventory is on zipreality.com. I created a set search and look at i…
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I call BS on your "random sample" of one mile from your house to work (or maybe a few miles)...how does this represent the Real Estate market for any such area. Epecially since you are only counting houses on the main roads. Question: Do houses…