Housing indeed is crashing

Oct 5, 2018 371 Comments

Price reduced in 1716 out of 5070 on sale over the last 30 days in seattle and east side.

Housing is indeed crashing.

Good luck to those who still don’t want to believe and keep their eyes closed.

And feeling sad for those who bought in the last 12 months. I am one of them :(

Housing indeed is crashing

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TOP 371 Comments
  • Google / Eng hooli.xyz
    Not really because of crash but because Seattle simply sucks.
    Oct 5, 2018 4
    • Amazon / Product
      8===D~

      Amazon Product

      PRE
      Google
      8===D~more
      “TRUUUUU” ::2chainz voice::
      Oct 7, 2018
    • Amazon / Eng Bluh
      He speaks the Tru Tru
      Oct 8, 2018
  • Oath / Mgmt Atinlay
    Winter is coming!
    Oct 5, 2018 2
    • Amazon Latebloom
      What’s that yellow badge next to your name?
      Oct 7, 2018
    • LinkedIn / Eng
      Cjir28

      LinkedIn Eng

      PRE
      Magic Leap
      Cjir28more
      Top contributor badge, if you tap on it it'll show a dialog window
      Oct 7, 2018
  • Amazon / Eng jNeo42
    It seems many for sale signs still come down pretty quickly or show “Sold by xxx”. At least for the sub-$1mil places which aren’t complete wrecks. I’m browsing Redfin for both Seattle and SF (the city, not SV), and there’s no longer a huge difference between the two. Whatever advantage people thought they’d get in Seattle over SF seems to be nearly lost. Taxes are lower here, but so is the pay. And you can’t put a price tag on being in the city of your choice — I mean, really, how many people out of 100 would choose Seattle over SF if costs are equal? Maybe the 5 who genuinely loathe sunshine?
    Oct 5, 2018 6
    • I would choose Seattle over SF every day of the week, even if SF streets were pristine. I just like the vibe and the weather and the location more.
      Oct 8, 2018
    • Microsoft zorQW77
      Seattle over SF every day. SF is filthy.
      Oct 10, 2018
  • Amazon / Eng jNeo42
    I can’t speak for SF, but I find Seattle to be a really hard sell once Amazon HQ2 kicks in. Of course there’s still MS and the expansion of G and FB. But Seattle has a weak startup scene, which doesn’t pay well and doesn’t carry the hype of SV startups. And of course it’s depressing here. It’s mid-October and already cold here, fleeting sun a few times a week. Nobody would ever choose this without a job making the choice, and hardly anyone would come here to retire. I doubt prices will crash here, but eventually people will come to their senses and realize it’s just not worth forcing yourself to live here for some unfulfilling corporate job. It’s a nice place to visit but there’s little need to stay here if you have choices.
    Oct 7, 2018 14
  • Microsoft havana✌
    Have you ever heard of seasonality?
    Oct 7, 2018 7
    • Amazon Tangent
      It’s not what it sounds like. The site is not advocating a bubble situation
      Oct 8, 2018
    • Amazon / Eng n0v
      The site started around 2007, when there was a bubble, and most people were denying it. They haven't changed the name,but the data is unbiased.
      Oct 8, 2018
  • Microsoft compiler
    Higher interest rate, amazon hq2, chinese cash buyers not coming anymore - the factors are all there.
    Oct 6, 2018 5
    • Square / Eng SQ
      Fall of 50% because of doubling rate? No.
      Oct 7, 2018
    • Amazon / Eng n0v
      There's a inverse correlation between interest rates and home prices, but it's certainly not linear. Rates have already gone from ~3% at their least to nearly 5%. In that time, housing prices are up. You need to look how monthly payments on a median priced home get affected by rise in interest rates. 600K @ 4% is roughly equal for monthly payments as 475K at 6%.
      Oct 7, 2018
  • CDW VQqN03
    Could it be that people are finally catching on to the fact that Seattle is not a good place to raise a good and normal family
    Oct 7, 2018 9
    • Microsoft Graco
      >So many immigrants
      Does uber in your profile means you drive uber?
      Oct 10, 2018
    • Uber / Other Hjkrdhk
      many immigrants = good thing, opportunities to become part of a community.
      Oct 10, 2018
  • This is not what “crash” means
    Oct 6, 2018 2
    • Microsoft AlMonyGone
      OP
      I said crashing. Not already “crashed”
      Oct 7, 2018
    • Suffixing “ing” or “ed” does not redefine “crash”
      Oct 7, 2018
  • Citibank / Eng TQtT37
    Not crashing just yet. Braking. It’s going to get so much worse. Same in sf Bay Area.
    Oct 5, 2018 3
    • Rates are rising. Prices will drop because of it
      Oct 7, 2018
    • Amazon Wilkeee
      It’s not a demand but a supply issue. The # of houses going into the market has increased, yet as demand is stable prices have declined
      Oct 7, 2018
  • Medallia Qualtrics
    Let's say something goes down from 1M to 700K - would you immediately consider it being cheap or affordable or reasonable? I'd not, especially with raising rates. In most cases 30% off isn't enough taking into account prices doubled and tripled before.
    Oct 7, 2018 1
    • Microsoft / Eng SenoritaWE
      $800k home, with 20% down. A
      3% mortgage, after 30 years you would have paid $331k in interest. In the near future at 5% interest, you would have paid $597k in interest. All assuming you don’t pay off early. $266k difference!
      Oct 7, 2018

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