Quote:
Originally Posted by Tony_SS
Beware! The same thing was going on everywhere before the bubble.. IMO, thats a sure sign of one, where people drive up values in a frenzy.. they end up overvalued and crash down.. the PNW is a fad right now I believe.. a year from now it will crash, IMO.
Here in the midwest we have been stable, but declining still. We have not seen the bottom in housing, no way. But that won't stop new bubbles from forming elsewhere with these ultra low rates the Fed is holding.
|
I don't think you understand the economy here. We NEVER had high unemployment -- nor do we have the foreclosure issues elsewhere in the country.
It's hard to look outside the box if you're not somewhere that is not having the same issues. Employment and job opportunities are what drive housing higher or lower. Think DETROIT.... low pay - not a lot of opportunity.... versus "Silcon Valley".... high job growth - high pay - high housing prices - maybe 1 or 2% unemployment. Ditto Seattle. If you're a housing framer - you suck... if you are in high tech sales or a software engineer or programmer - you have multiple job offers at 100+ K per year and all the benefits you want.
The government may be busy bailing out Louisiana - but they've got nothing to do around here.