How is the economy in Seattle now? A resident's perspective is needed. (fit in)

[green_mariner]

I read somewhere that Seattle's economy is actually doing alright and that poverty levels have been dropping. That is what I hear. I go to city-data.com and I notice someone changed the statistics. I need a resident's perspective because I am getting the idea that some stats are not that factual anymore.

The source:http://seattletimes.nwsource.com/htm...poverty27.html

[Jennibc]

Untitled Page (http://www.istockanalyst.com/article/viewiStockNews+articleid_2620778.html - broken link)
The unemployment rate is rising here right now.

[Ira500]

Pirate,
The article you cited was up until the end of 2007...I'm pretty sure things have gone down somewhat since then. ...Also, statistics can be twisted a lot of different ways. For example, the percentage of people now in poverty has decreased a little, but how many people have moved downward closer to the poverty line, and while the median household income has increased, it's smaller than the rate of inflation...So, yes, the Seattle economy has been stronger than other places in the recent past, but doesn't always move lockstep with other places, like with house prices . In other cities, home prices started dropping a year or more earlier than they did in Seattle, and in some cities they may have already hit bottom, but in Seattle it seems like the declines are continuing.

[obsidian97]

I think perceptions of the economy depend significantly upon where you happen to fit into things.

My perception:

I'd say that people are generally being more cautious around here with their money. More folks are renting for longer than buying homes. The labor market is tightening up a little, but places are still hiring, people are quiet about the value of their homes...

I would not say that the area is in a recession at this time. Not from what I'm seeing. I'd say it feels like it's on the bubble at the moment.