2.50 pm, last Friday, The Bubble is Over, Folks...
Despite what locals keep saying about Seattle's housing market, I would like to now draw your attention to the fact that it has now obviously tanked.
Any student of history, or long-time resident (not that there are many of either in this area) could tell you that national economic slowdowns <b>always</b> hit this area later than the rest of the country, and we always recover later. It's a function of geography and trade. We're far from the rest of the country and close to our major trading partners[1]. Next up, the job market will slow down. Oh wait. It has.
[1] Seattle being the closest mainland-US port to Asia.
I spotted this plethora of signs when i was shooting photos of a car crash near my house.
Comments
i'm no realtor but i know from looking at the bubble blog here that inventory has steadily decreased since the summer, especially in capitol hill. i think the condo thing could be an issue but i am starting to see houses around me here on the north side get sold fast and we are just at the cusp of when people start buying houses around here. i wouldn't hold my breath for any deals any time soon. just saying.
Posted by: Melv | February 8, 2008 02:03 PM