Analysis and commentary on economic news, trends and issues, with an emphasis on Seattle and the Northwest.
November 11, 2011 at 10:00 AM
Vote: Are you bullish on Seattle real estate?
As the Seattle Times‘ Eric Pryne reports, King County housing is more affordable than any time in the past 17 years. It’s a great time to buy, if you can.
Therein lies the down side. Lower prices are necessary to make the market function in an ailing real-estate economy. They also represent de-facto deflation for house owners, and threaten to put more underwater, owning more on their mortgages than the house is worth. Many are saddled with debt and many can’t qualify for mortgages because lenders have tightened standards. Inventory in some areas outstrips demand.
Here’s the Friday poll:
My position on local real estate
This week’s links:
Paul Krugman explains the Eurozone crisis in one sentence || Business Insider
How Europe’s debt crisis will shake corporate America || Reuters
Technological change is displacing workers faster than the economy can find jobs for them || The Economist
What can we say about President Obama’s economic performance? || Rortybomb
The value of the safety net || CBPP
Economic upward mobility impaired || National Review
How the tax credit has wounded homebuyers who jumped in || Seattle Bubble/MarketWatch
Manufacturing is special || Vox
Corporations hate regulation, until they love it || Mother Jones
U.S. drought costs exceed $10 billion || USA Today
Bye-bye to cheap Chinese labor || Global Post
How the rich rig the system || Salon
Eight reasons why Italy is such a mess || Foreign Policy
Today’s Econ Haiku:
State liquor workers
Can get Costco interviews
See, that’s the spirit
| More in Real estate
The opinions expressed in reader comments are those of the author only, and do not reflect the opinions of The Seattle Times.