Here in the North Seattle area, I see a lot of building
over in Bothell--where a lot of soggy areas, hillsides,
and old pastures are finally being developed. My
neighborhood is pretty full, although you still see
a dozen going in here, a dozen houses there, the last
few acres are finally filled up.
Part of this is the growth managment act, development
is favored closer in to the city. Reduces sprawl and
drives up values near the city.
fwiw, I edited my message since you posted, help me
figure out why people are so comfortable borrowing.
Actually, now that I think about it, in the wake of
the market correction, lots of folks started thinking
about RE as a haven, and the low rates sealed the deal.
I've never been too hot for RE, you have to pay the damn
taxes every year. That's no fun.
But I'd have done really well to buy a building lot,
say, seven years ago. I'd have doubled my money. Well,
glad I played the stock market instead, did better. <g> |
