SCR Reader Poll: Will it be a happy Spring 2008? By Marco Kronen|2019-04-12T21:43:08+00:00October 28th, 2007|Market opinion, Reader Surveys, Seattle Condo Investment Talk, Seattle Condo Seller's Talk, Seattle Economic Indicators|3 Comments Share This Story, Choose Your Platform! FacebookTwitterLinkedInRedditWhatsappTumblrPinterestVkEmail About the Author: Marco Kronen Marco Kronen is the author of Seattle Condo Review and is real estate agent in Seattle who specializes in condos. He has been serving clients in Seattle since 2004. Related Posts Mortgage Rates Might Reach Record Lows by End of Year Gallery Mortgage Rates Might Reach Record Lows by End of Year New Progressive State Real Estate Excise Tax Will Significantly Affect Sellers of $1.5M+ Properties Gallery New Progressive State Real Estate Excise Tax Will Significantly Affect Sellers of $1.5M+ Properties What’s Happening in the Market? Shift, Change, Adjustment or What? Gallery What’s Happening in the Market? Shift, Change, Adjustment or What? 2018 Housing Forecast by Matthew Gardner Gallery 2018 Housing Forecast by Matthew Gardner Snapshot of Western Washington Real Estate Market Gallery Snapshot of Western Washington Real Estate Market 3 Comments Colin October 28, 2007 at 6:43 pm - Reply I won’t make any predictions, but I’d call readers’ attention to the material collected at http://krugman.blogs.nytimes.com/2007/10/27/some-housing-pictures/ The graphic at the bottom, grabbed from an IMF document that he links to, is especially interesting. These are of course national data, but they suggest we face several years of downward pressure. Quoth the IMF: “… the effects of previous excesses are likely to continue at least through 2008, as low introductory “teaser” rates on adjustable-rate mortgages (ARMs) reset to higher rates, and as mortgages start to amortize (Figure 1.7). Unlike previous years, borrowers experiencing payment difficulties are expected to have fewer refinancing options, since falling house prices reduce the amount of homeowner equity, while tighter lending standards limit the range of mortgages available to nonprime borrowers.” Ken October 28, 2007 at 10:17 pm - Reply Krugman is one smart dude but he looks at the macroeconomic data. I think every region is unique and based on the relative strength of the Seattle market so far and assuming the rest of the country doesn’t fall to far, I’d argue Seattle still has some nice steady growth ahead. jane October 29, 2007 at 1:15 pm - Reply fascinating how evenly split the survey looks. i suppose that’s to be expected. Leave A Comment Cancel reply Comment Save my name, email, and website in this browser for the next time I comment.