2.50 pm, last Friday, The Bubble is Over, Folks...
Despite what locals keep saying about Seattle's housing market being better that the rest of the nation, I would like to now draw your attention to the fact that it has now obviously tanked.
Any student of history, or long-time resident (not that there are many of either in this area) could tell you that national economic slowdowns always hit this area later than the rest of the country, and we always recover later. It's a function of geography and trade. We're far from the rest of the country and close to our major trading partners[1]. Next up, the job market will slow down. Oh wait. It has.
[1] Seattle being the closest mainland-US port to Asia.
[http://brappy.com/blog/2008/02/250_pm_last_friday_the_bubble.html]
Comments and faves
Seattle Daily Photo (53 months ago | reply)
According to our friends who tried to sell their house last year, it was over last summer. Everything sat around after the spring market. And anything selling now has gone down in price from last spring. Hey, is this a new condo complex? What street? Thanks,
-Kim
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Seen in Metroblogging Seattle (?)
arion» (53 months ago | reply)
This isn't a new condo complex; it's a 5 year-old one on Melrose Avenue at Republican Street.