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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

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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.

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3 Comments

  1. 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.”

  2. 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.

  3. jane October 29, 2007 at 1:15 pm - Reply

    fascinating how evenly split the survey looks. i suppose that’s to be expected.

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