Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Earlie who wrote (51767)	5/26/2006 11:49:15 AM
From: benwood	Read Replies (1) of 116555

The Seattle RE market is still hotter than heck, mostly due to very short supply. Yesterday on my bike ride in, I saw a house in my neighborhood for sale -- hadn't noticed it the day before -- and it was already sold. I think the bubble came to Seattle late, and consequently, there's a lag effect here. Plus fewer people here want to "get out" because that means you have to go live somewhere else. I do anticipate prices to crest this year. My house is already worth 2.4-2.5x what I paid in late 1993, and there's just no way prices could stay this high without easy mortgages, because people's wages haven't been going up 10% a year all that time.

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