SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Mish's Global Economic Trend Analysis
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: SouthFloridaGuy who wrote (80666)6/26/2008 3:38:16 PM
From: benwood  Read Replies (2) of 116555
 
I noticed in my area in Seattle a number of homes sold very recently, after inventory got to the highest level I'd ever seen (in my neighborhood). Prices dropped 5% y-o-y but up in May versus April. Inventory is still fairly high though, and most sales I noticed were in June not May, so the monthly trend will probably continue up for at least one more month. Not sure if it's a dead cat bounce yet or what. I've noticed lots of projects which stalled, but many more proceeded full speed.

Prices still amazingly high relative to incomes, though. But with retail inflation running at 8-10% the true y-o-y has been off 15% and even going sideways for another year would be a further decline of 8-10%. Of course... wages are only going up 2%. Aye, there's the rub. That, and mortgages to qualified borrowers in short supply.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News