Profile picture for jeremy.b

Interesting opinion on home prices in Seattle

Do you buy it?

 

I can't refute the conclusion of the study but I don't know nearly as much about real estate as a good portion of you Zillowers on here.  Would love to know what people think since land use regulation is an issue in a fair number of cities around the nation. 

  • February 14 2008 - US
  • 4
    4Yes

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Answers (9)

Profile picture for cheapskate

Holy Smokes Seattle house prices went up by 200k wow. Yes sierra club is big here in seattle they have a lot of influence from politicians and people.

  • February 14 2008
  • 4Yes

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Profile picture for cheapskate

Care to comment Aldreth? This guy is a UW professor in economics lol

  • February 14 2008
  • 4Yes

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Profile picture for cheapskate

Hey azrob, care to comment on this one? This guy is for real man! lol 

  • February 14 2008
  • 4Yes

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Profile picture for cheapskate

Oh yeah Randy "claim" to be expert in finance and economy. Care to comment on this one bud? lol

  • February 14 2008
  • 4Yes

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two comments:

1. I would never want to own real estate where prices are held up only by government interference. Tomorrow, seattle could begin approving more housing/condos/development, and poof, there goes the price support.

 

2. Unless rents have kept in line, I'm calling BS. Housing price increases due to supply demand issues, such as a lack of housing, result in rents climbing just as fast as prices, and hence price/rent ratio should remain relatively stable.

  • February 14 2008
  • 2Yes

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two comments:

1. I would never want to own real estate where prices are held up only by government interference. Tomorrow, seattle could begin approving more housing/condos/development, and poof, there goes the price support.

 

2. Unless rents have kept in line, I'm calling BS. Housing price increases due to supply demand issues, such as a lack of housing, result in rents climbing just as fast as prices, and hence price/rent ratio should remain relatively stable.

  • February 14 2008
  • 2Yes

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Profile picture for Aldreth

"Backed by studies showing that middle-class Seattle residents can no longer afford the city's middle-class homes, consensus is growing that prices are too darned high."

 

---Yep...

 

Last summer, King County's potential first-time buyers earning the median family income ($75,143) had just 37 percent of the financial wherewithal to buy the median-priced single-family house ($477,000) at the prevailing interest rate (6.47 percent).

Five years earlier, when King County's median-priced house cost $282,500, median-income, first-time buyers possessed 72 percent of the income needed.

 

---Yep...

 

Will Prices Fall?

<--- Yep...

 

 

 

 

  • February 14 2008
  • 3Yes

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I see shipdip has been on in his multiple personalities, saying "helpfull" to all his posts, and unhelpfull to everyone else!!! how funny/sad...

  • February 14 2008
  • 2Yes

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Profile picture for Aldreth

aye.

  • February 14 2008
  • 2Yes

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