Potential real estate crash
Last year I put a large chunk of my savings that includes most my RSU into my home down payment. I own a single family home in Klahanie and it cost me a fortune. The home price has gone up since I bought it, but off late I have been hearing of a real estate crash that could bring property prices down by as much as 40%. It seems Seattle city is going to charge additional property taxes on non resident foreign investors which will decrease foreign investment thereby bringing down property prices. I’m also hearing that Amazon HQ2 will have a negative impact on house prices. Has anyone else heard anything like this?
No offense to you, but I'm super happy they're changing the law to tax foreign non resident investors buying up property. I'm hoping it becomes a model for the bay area to follow.
They will just start buying on the Eastside. You should be safe in Klahanie
Klahanie? Also yes real estate crashes and then it appreciates again, 1% on average a year. As long as you live there nbd.
HQ2 is years away so don’t worry about it. The foreign buyer tax will take some time to negatively affect housing prices if at all implemented. Overall I see good growth in property values for the next 2-3 years
We are all on the same boat mate. As long as it’s your primary residence don’t think about it. Just enjoy your home !
Has there been any update on the proposed Seattle real estate tax? Last I heard it was not moving forward. And if it does, that's just Seattle. Looks like your in Sammamish. East of Lake like Sammamish, Kirkland, Kenmore, Bellevue might even benefit from a city of Seattle tax
What about buying to rent it out? Should I even consider that? (I really don't need anything more than the 1bd apt I rent for 1500)
It's generally a good idea. Going well for me so far in that area. My houses are on the east side though, not city of Seattle
Would you ever buy if rent did not cover morgage and you'd have to add a couple hundred per month? How high can one go below break even and still not be crazy
Seattle can't place taxes on foreign investment. It's literally against the entire legal history of this country.
Don’t worry- everybody is on the same boat