By David Losh follow 2012 Nov 15, 8:02am 1 link 1,658 views 7 comments
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Two houses in my area went pending, and sold in the past two weeks. Both are builder spec homes that have been on the market for at least five years. They have been rented periodically, but the asking price stays the same.
Is this the same in all cities, in nice areas, or is Seattle special?
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Gosh darn it, redfin doesn't have them listed, which is kind of typical for redfin.
I'll try Zillow next.
Take your pick,
You, know Zillow really sucks also as a search site.
I'll try estately.com next
Estately.com by cracky is by far the best search site out there, just from my quick observation.
Again take your pick.
It's everywhere. You will be fucked. The builders throwing up Tyvek/particle-board crapware using slave labor illegals, the Realtor® scum, the banksters, the mortgage broker scum and Fannie and Freddie will take nothing less than 100x their investments. No one in America will go unraped!
I went to an estate sale in a house that has been vacant for more than six years while the heirs decided what to do with the property.
Well they are madly preparing the property for sale, and cleaning it out.
My observation is that people with money, real money, are looking at now as the time to sell. We are in a dream state where the election offers hope to all the little fish that have waited so patiently.
Darrell In Phoenix says
Now answer the question.
Number one, no one on the internet is here to answer your questions.
If you are demanding answers use Google.
However, I don't mind telling you, and you can Google this on your own, that there is a lot of Real Estate market exhuberance. Most people think Bernanke will cause inflation so that they will be saved from debt.
Inflation isn't happening, and can't happen. As a matter of fact a guy here in Seattle http://www.practicalpodcasting.com/about/ started blogging about deflation in 2005. I couldn't find his economy blog, but then again, you can always use Google.
Most people, and I will emphasize most, never heard of delation, and don't want to believe it.
What he said has come true, for the most part, but he never saw the amount of global government interference with banking, or the financial markets.
So having one voice screaming, no matter how loud, isn't going to change a century of economic policy that relies on economic expansion.
Most economists I have read think that by inflating another bubble is the way to get past this "bump" in the road.
I think government needs to concentrate on debt forgiveness, oooooh, everybody hates that one, and eliminating debt, rather than piling it on.