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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.
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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.
Care to comment Aldreth? This guy is a UW professor in economics lol
Hey azrob, care to comment on this one? This guy is for real man! lol
Oh yeah Randy "claim" to be expert in finance and economy. Care to comment on this one bud? lol
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.
"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."
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.
Will Prices Fall?
I see shipdip has been on in his multiple personalities, saying "helpfull" to all his posts, and unhelpfull to everyone else!!! how funny/sad...
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