Seattle housing bubble bursting.
According to the article: âYear-over-year, the median listing price remains up 3.9%.â
Thatâs asking price. The prices theyâre selling for dropped. The data only goes through August According to the article. âThe impact on selling prices â the prices at which properties are actually sold â is already visible, even in the Case-Shiller Home Price Index which lags about three months by design (the data released at the end of October was a rolling three-month average for June, July, and August). After spiking for months into June, prices turned around and dropped 2% in July and August, the sharpest two-month drop since Housing Bust 1â
No, yoy sold price is up. https://seattlebubble.com/blog/2018/11/06/nwmls-inventory-up-big-from-2017-sales-slip/
Mirror image of bubble 1 only larger.
Except there aren't subprime loans, lending standards are up, mortgage payment terms are reasonable and the economy is doing well. Don't get me wrong, with interest rates going up, we'll likely see some price correction. But we won't see a 2009 style crash.
Oh look, another opinion from a nobody whose opinion is worth less than my plumber's. Yawn.
Youâre providing a worthless opinion by not providing counterpoints and facts. Your plumber knows more about whatâs happening in the market than youâll ever know. Arrogant pricks like you lose money to informed pricks like me all the time. Darwinism in full effect.
Do you think repeating random statistics you don't understand counts as evidence? You Do? Well that explains it. Meanwhile, I'll continue getting filthy rich by ACTUALLY knowing how the economy works.
Prices donât go only go up. Question is, bubble burst or soft landing?
Chickens are coming home to roost
We're not going to be ready to buy until 2020 regardless of the market. 1.3m is my max budget although income can support more, don't like going that high. Whatever happens in the market between now and then we'll just have to deal. Would prefer new/newer house but also don't like tiny lots...
To get the lot built builders have to go through a lot of permits inWA. The reason why it looks slowing down is due to too many new homes(they were all started to build last year when it was crazy). Wait a few month and see. Also builders are more favored of apt than single families in Sea
Housing prices are still up yoy and volume/sales reduction is a bit worse than normal seasonality. The real test will be next spring.