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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: John Vosilla who wrote (304494)2/24/2011 1:42:05 PM
From: tejekRead Replies (1) of 306849
 
Ratigan of MSNBC was in Seattle yesterday...nice pieces on Boeing and Nucor. I think being a prime west coast port with ties to the incredible growth in Asia sure helped too... Ironic Red America has fallen so far behind due to 30 years of Reaganomics on steroids but I do think very high home prices and costs of living will make it much more difficult for the younger generation to succeed in places like Seattle or Vancouver...Which is why places like Austin and Raleigh are well positioned as they are blue in a sea of red so have the best of both worlds right now...lol

I think you may be right. Seattle was starting to come back earlier last year like it normally does but then things fell off a cliff in the last half. And last year, Boeing opened up an operation in Charleston which competes directly with Seattle. The way things are going the West is limiting itself to people who already live in the West or to people from some markets in the East......people who are comfortable with the higher housing prices. People in the South and the Midwest will not be able to afford the housing market here.

Of course the irony is that Portland has a significantly lower housing median than Seattle and yet experienced slower growth during the past ten years. So who knows.

Oh yeah........I said in another post that Seattle housing prices really didn't boom this past decade but yesterday I read an article that disagreed with that statement. Its my belief that most of the boom in Seattle's median price occurred in the 90s with growth slowing during the aughts. However, the article disagreed with that premise. I will have to go back and look at the numbers again.
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