Terry Newton - Seattle’s Housing Market Is Imploding as the “Starbucks Effect” Takes Hold
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It is a shame ordinary homeowners will lose value, but the market was probably overpriced like other west coast cities the libs love.
Terry Newton - Seattle’s Housing Market Is Imploding as the “Starbucks Effect” Takes Hold
https://economiccollapse.report/seattles-housing-market-is-imploding-as-the-starbucks-effect-takes-hold/
What is hardly mentioned in articles like this is the effect these relocations have on the markets where they are moving to. They make so much money on the sale of a home on the West Coast that they can pretty much put cash down on a home somewhere else driving up the costs of property in places like Tennessee. Making those markets unaffordable for the locals. The markets in places like Seattle are distorted and do not reflect the actual value.
I saw the same thing happen in Nevada when Californians were selling their homes and moving to Nevada. Home prices in both Reno and Las Vegas started shooting through the roof, pricing native Nevadans out of the market. It also drove up rental prices. Wages certainly did not keep pace. I lucked out okay because I purchased at the dip during the Recession and mortgage/property crash. My mortgage is far cheaper than what most people are paying for rent and for a much smaller place.
People in Seattle are not the sharpest tools in the shed, but they’re gonna learn schools in session bitches
Lol
Play stupid games, win stupid prizes.
Democrats:
A pestilence that afflicts everywhere they hold power. They're like pustules, always ideology over common sense. If this nation were to look to first causes and root causes, I think we would find that all our problems emit like a foul odor from that bunch of ingrates and dirtbags.
At some point, progressive policies always fail.
Right, and that's when the killing fields, gulags, and real tyranny begins, after their ideology has failed them once again, but they've already tasted the sweet flavor of power.
They have no reverse gear or ability to self correct. It always has to come down to overthrowing them by force.
"You can vote your way into socialism / communism, but you will have to shoot your way out."
Well said fren.
A good thing is that if house prices are being lowered, then insurance premiums should be lowered, also. But the corrupt deep state insurance scam will keep the peasants paying the higher rates even though the houses are worth less.
Real estate is ridiculous. Housing costs are not based upon actual value, but market speculation. I just want a cheaper place to live in all aspects - mortgage, taxes, insurance, etc. Don't really care much about the market value of my home as long as I can afford to live there. I can't take it with me. I just need an affordable place to park my head at night until that day when it is no longer needed.
You wouldn't believe what the valuation on my house is.. I'm now a new millionaire, but I cannot afford the insurance and taxes because of the valuation. What a conundrum.
Exactly. My own home is worth 3 times what I paid for it. That's insane.
Many seniors are forced out of the homes they spent decades paying off simply because they can't afford the insurance and property taxes due to the inflated values. Houses should be for living, not speculation and debt leverage. The whole system is broken when the average person can't afford to own a home. When I was a kid the average Joe, if they had a steady job, could buy a home. My parents did it on my father's salary alone. They were even able to save money and had 3 kids to raise. We weren't wealthy, but we weren't poor either. Something is seriously wrong with the way things are.
I arrived in Washington from Montana for work two weeks ago. I was dreading it. The last thing I wanted to do was be in this godforsaken liberal state. I'm surprised at how levelheaded & decent so many folks are. It's really been a good experience! This is a travel assignment/temporary job that I took could become permanent.
I havent experienced negative politics yet, (kinda) but the housing is absolutely insane! And the homeless and poverty is insane as well. It's funny how the politicians have taken some of the most beautiful states and destroyed them. I find that so shocking!
WA is held captive like CA. We have mail in voting ONLY in WA.
Hmmmm...how well is that working out for the conservative candidates?
Ask Culp. They get cheated out of wins always. Every bond gets passed, everything the democrats want gets passed. It’s miserable but there’s no way I know to change the mail in only voting.
That's fxcked up..,And I'm sure it's totally legitimate...