Friday 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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11 comments:
I'm a Southern Californian looking to bail out of CA and Seattle and Portland are my choices.
no humidity?.... ain't happenin' here. If jobs aren't important and you want to live near the coast...
Well, I'd say hit Portland, Portland's a cool town, like Seattle if the 90's hadn't happened to it...
Within reach of an airport?..hmmm...
Santa Fe, NM
Flagstaff/Sedona, AZ
Fort Collins, CO
Bellingham, WA
If you don't mind a commuter hop to a hub, your prospects increase three-fold...
Ashland, OR
Ruidoso, NM
Bend, OR
Wenatchee/Leavenworth, WA
good luck...
Interesting article about housing affordability on Bainbridge Island. It's relevant. Alot of people think Bainbridge Island is more a part of Seattle than it is part of Kitsap County.
link to article
Vancouver, British Columbia. It's coastal, in North America, is very close to a decent international airport, has better and cheaper restaurants than Seattle, and skiing, windsurfing, cycling, hiking, snowboarding, paragliding all seem like good outdoor activities to me.
If this subject is of interest, I suggest reading Rich Karlgaard's Life 2.0
His writing is a bit annoying due to his ego, but he has written a pretty good piece on rebooting your livlihood and getting away from big-city, coastal mayhem.
Second half of the book is a list of interesting towns and cities. Don't discount flyover country. I lived my whole life in Seattle and it has turned into a place I don't like anymore.
This book gave me the kick in the pants I needed to start to process of getting out of dodge while I still have two strong legs.
can I make a suggestion for a topic for seattle bubble?
can you compare the dec 2005 national housing market news with the dec 2006 news for seattle? I'm interested to see how things compare.
Did anyone catch this nugget?
S&P Cuts Washington Mutual to Hold
Our downgrade is based on concerns regarding Washington Mutual's exposure to subprime loans, which have had accelerated default rates of late. Although Washington Mutual's exposure to these loans has narrowed, they still represent approximately 8% of loans held and 16% of mortgage originations. Our 2006 and 2007 earnings per share (EPS) estimates remain $3.60 and $4.09. However, we are reducing our 12-month target price by $1, to $47, 11.5 times our 2007 EPS estimate, a discount to peers in order to reflect our view of Washington Mutual's subprime exposure.
Steve,
Why not stay in SoCal?
If I could live anywhere?
Top 3 would be:
Santa Barbara
Manhattan
Sonoma/Nappa
John,
I like that idea. I'll see what I can dig up. Also interesting would be comparisons with specific markets now in decline.
Plymster - good find.
The credit bubble is starting to pop - and IMO, housing prices will follow.
Found a great blog today on this very topic. An excerpt:
"What does this signal? To me it suggests that the subprime lending cycle is history. And if it’s history, then a very large chunk of the nonconforming borrowing seen in 2004, 2005, and most of 2006, will not be repeated in 2007. And if those marginal buyers of housing are removed from the picture, then there is no way properties get much of a bid going forward. This lack of financing aspect shows up in the reasons for cancellations chart and survey below. Subprimer refis will be problematic as well. In straightforward parlance that’s called a credit contraction, the wicked step-sister of a liquidity based expansion."
Great stuff for those interested in the credit contraction and how it's going to play out in the housing market:
http://wallstreetexaminer.com/blogs/winter/?p=157
This is the main reason that I think the housing bubble is real. And until this credit contraction happens in full swing, we won't see price declines.
Why not move to San Diego?
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