Monday Open Thread
This is your open thread for today. Please post random links and off-topic discussions here.
Off-topic comment? Interesting link?
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4 comments:
Interesting discussion. Seattle 34% over-valued. Expect slowing appreciation and single digit growth for several years, as populations and incomes catch-up. Every is rosy as the Fed lands this puppy...
I'm sure there will be a post about this, but I just had to mention the 1.7% YOY decrease in prices nationwide from Aug 05 to 06.
"But... prices never go down!"
Housing date out today and down again…… Real Estate still continues up with no stop in site. The “bubble” has burst in like 4 cities in the US. I’m really beginning to think it will take 2 salaries & 60% of your income to buy a house. History & the data says otherwise…. But it is getting harder & harder to believe anymore.
Nobody knows what's going to happen. Nobody has a crystal ball. Any prediction of the future is no more than an ananlysis of the current vectors and trends to make a guess about what it might or might not be like tomorrow.
We are in a historically unprecedented scenario with RE right now. This is being exascerbated by the economic condition of this country(ie savings level lowest since great depression). All things considered I personally find it highly unlikely that RE is going to continue climbing in Seattle, because like it or not Seattle is attached to the rest of the US. and the rest of the US is already showing some serious cracks in the damn. Will it all melt down? Who knows? Will it be a "soft landing?" Maybe. But I for one, as a first time homebuyer, deciding whether to buy now, or wait until the forecast because a little clearer, feel it's prudent to sit on the sidelines for a bit longer to see how all this plays out... Am I getting "priced out" of the market? Maybe. But I'd rather get priced out, than find myself underwater on a mortgage I can barely afford next year, or the year after.
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