Seattle housing gone insane!
Lost 3 bidding wars. I don't know if it's a bubble or if foreign capital flowing into Seattle due to Vancouver adding foreign tax. Every decent home is going atleast 100k over asking price and all cash offers with no conditions. Most recent one that I lost: listed at $640k, sold at $770k cash!!
Yes. Too many millionaires owning multiple properties to drain all wealth from high income IT workers. And IT companies and government don't give a shit. I think we should prove we are smart and organized and force a bill for taxing multiple properties owners. As a libertarian I don't like taxing, but this is going too far.
Dear loser, fuck you.
The solution is to make it easier to build more housing not to add more taxes. Speculators don't make prices change long term, they only allow the market to reflect future needs more quickly which ideally in this case would signal to property developers to build more.
so punish them because they got there before you? next you suggest everyone gets participation house.
Chinese buyers have declined recently. Just saw an article about it. It's even too expensive for them, believe it or not. It's not really a bubble, either. Just a really great job market with tech companies moving up here. Nice work, guys.
You double it with cash or stop whining.
When Feds print money 24/7 this is what is expected... people assume house value is rising.... they don't realize it's all inflation which will eventually spill to other areas... wages will lag for a while....
Wut?
where can you find a livable house under 800k on the Eastside? Stop making things up, that doesn't exist
You might just be choosing houses to bid on poorly. Some realtors price properties below market in hopes of a bidding war. It sucks when you see something that looks like it is in your price range and you like and then you look at other property in your price range and it looks over priced. I'm starting to look at buying in the San Francisco Bay Area. I've started to get a feel for which properties are going to sell above asking and which ones are not. FYI, if you can pay all cash coops are a better value, but will be hard to sell.
sounds like a dream compared to SF. Our house was listed at 3.1 and had to go to 3.7.
You rich bastard. ;)
Mo' money, Mo' problems.
I blame it on "investors" and realtors that artificially drive up the market for whoever is looking for a home. There should be hard limits like in Canada.
Hard limits hasn't done much in Canada. Realtors have setup Corporations and "investors" now buys them via corporation bypassing taxation. Vancouver also introduced subprime mortgage loans last year to "help" locals get into the market. Subprime loan works like this: if you don't have downpayment, the govt will give you up to 5-10% Downpayment money in cash which is interest free. So, basically you can buy a house with 0-5% down payment. All of that combined, prices have now hit all time high (higher than last year).
Ouch! Was this on the Eastside?