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Old 06-09-2010, 03:24 PM
 
3,695 posts, read 11,371,813 times
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http://news.fund123.cn/downloads/332497.pdf (broken link) (NOTE: Link goes directly to PDF file.)

Goldman-Sachs is predicting that house prices in Seattle will drop an additional 22% over the next two years, more than most other cities in the country.

Good time to rent if you are moving here.

 
Old 06-09-2010, 03:28 PM
 
Location: Kentucky
470 posts, read 1,036,816 times
Reputation: 281
Home values need to drop 20% for the most part around the country. Here in Spokane where I live you saw a 17 % increase in home price in 2005 alone. It's not a bad thing. If you compare what this decreaesd future value will be in a couple of years to where homes were priced just five years ago when this financial mess was starting to brew, you will see it will be representative of where it would have been given steady growth.
 
Old 06-09-2010, 03:33 PM
 
3,695 posts, read 11,371,813 times
Reputation: 2651
More info at Goldman: Seattle Home Prices to Fall 22% More by 2012 • Seattle Bubble
 
Old 06-09-2010, 03:41 PM
 
506 posts, read 2,574,540 times
Reputation: 212
No one has a crystal ball:

10 Best Cities for the Next Decade - Yahoo! Real Estate

If property does drop though at least we can buy more properties to add to our real estate "empire".
 
Old 06-09-2010, 03:45 PM
 
692 posts, read 3,142,103 times
Reputation: 357
That sounds very Credible to me as I have infomation stating up to a 30% additional reduction in residential housing prices is still comming in the next few years.

The Seattle area has not been hit very hard yet so that 22% or more would make sense.
I think a lot of people are going to be surprised and blindsided over whats still ahead for this country and it's Citizens.
I don't just mean Real Estate either.
Get your bills paid off instead of taking on more Debt like our leaders are doing to us.

I don't see the Green Shoots .......Just a pause between Tsunamies.
 
Old 06-09-2010, 04:02 PM
 
692 posts, read 3,142,103 times
Reputation: 357
Quote:
Originally Posted by Redline View Post
No one has a crystal ball:

10 Best Cities for the Next Decade - Yahoo! Real Estate

If property does drop though at least we can buy more properties to add to our real estate "empire".
1. I agree. No one can predict the future exactly, although I have come close on a couple occasions.

2. The 10 best cities is for a decade not a couple years or so.

3. I am sure there will be many properties bought up at Fire Sale Prices when all this goes DOWN.

The question is ...Who will buy them ??

Only those that Survive with Adaquate Resources in tact when it reaches the final Bottom.

This Recession has already "Cleaned the Clock" of many that had considerable wealth and assets.

IMHO .. The next round could even be worse.

I'm specifically looking at 2011 and 2012 ......and maybe a while beyond
 
Old 06-09-2010, 04:24 PM
 
9,618 posts, read 27,339,773 times
Reputation: 5382
It's not that I disagree with this prediction, it's just that most predictions don't turn out to be true..Like Yogi Berra said " Predictions are hard to make, especially about the future."
I also agree that lower house prices are not a bad thing. When home prices drop, it's usually reported in the media and the real estate industry as if that's a bad thing. but if home prices are so high that they're out of reach of most people, why is it bad if more people can afford them?
Sure, if you bought a house three years ago and need to sell now, you're going to lose a lot of money. That can't be fun. But buying a home has never been a sure thing financially, there have always been periods when home prices go down, and there will continue to be those times. Will Seattle see a 22% drop in the next two years? It's possible, but I don't think it'll be that bad. The outer suburbs where they overbuilt will probably do worse than the most desirable in city neighborhoods.
Also, i think that article saying Seattle's home values over the next decade will be among the nation's best is also based on absolutely nothing, just another know nothing expert spouting off.
 
Old 06-09-2010, 04:27 PM
 
Location: Seattle
807 posts, read 2,258,162 times
Reputation: 471
Quote:
Originally Posted by silverfox View Post
That sounds very Credible to me as I have infomation stating up to a 30% additional reduction in residential housing prices is still comming in the next few years.

The Seattle area has not been hit very hard yet so that 22% or more would make sense.
I think a lot of people are going to be surprised and blindsided over whats still ahead for this country and it's Citizens.
I don't just mean Real Estate either.
Get your bills paid off instead of taking on more Debt like our leaders are doing to us.

I don't see the Green Shoots .......Just a pause between Tsunamies.
Your grammatical errors tip me off that youre a tea-party kinda guy. So I will take your apocolyptic opinion with a big grain of salt.

Oh, and your president is still a black democrat. Have a nice day!
 
Old 06-09-2010, 05:18 PM
 
692 posts, read 3,142,103 times
Reputation: 357
JesseJB

I don't appreciate your Idiotic Response.

Your making false assumtions that are totally Ridiculous as well as Incorrect.

Maybe if you actually knew me you would understand just how "Off Base" you are.

Since you think you are so good at Judging Others, please give us your predictions/opinions/thoughts on the next 2-3 year time frame.

Please keep Politics out of your response .. if you can.
 
Old 06-09-2010, 05:22 PM
 
191 posts, read 510,762 times
Reputation: 218
Dropping property values is a great thing for Seattle.... if you don't own a house anyway. If you do, then the drop is deserved, you're house is over-valued.
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