Couldn't help but notice a nice shape starting to form in Altos Research's median price chart.
I think the end of fall is quite optimistic. Seattle has not felt the effects of layoffs from WaMu, Boeing, Weyerhauser, and Microsoft to name a few. Seattle tends to lag in the real estate market compared to other markets in the U.S., so only time will tell. If I had to predict the bottom for Seattle, I'd say 2010 Q4.
Posted by: John | Apr 13, 2009 9:56:48 AM
I predict the bottom will be end of 2012. Seattle's problems with traffic, dying companies like Microsoft and WAMU, and unsupportive state government will cause prices to come down an additional 50-70% before hitting bottom for Seattle at the end of 2012 and even after that, there will be no improvement, just lack of losses. My advice is to buy precious metals and short the US equity markets.
Posted by: Albert | Apr 13, 2009 1:44:57 PM
Seriously? C'mon dude, get a grip. It's a recession, it's not Armageddon. Have fun in your bunker with your canned food.
Posted by: Harry | Apr 13, 2009 8:58:00 PM
My intuition says bottom at end of the Fall and slow, gradual, not too exciting "normal" growth over the next few years.
Posted by: Wendy Leung