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Seattle, Washington has had the fastest rising home prices in the United States in the past 2 years. Here we take a look at the reasons for such strong demand for Seattle homes and something very interesting has happened that we haven’t seen since 2007.
Links to articles referenced in the video:
Seattle Housing Bubble Blog: https://bit.ly/2xKQ0ox
Wolf Street home price charts: https://bit.ly/2JDAm3b
Seattle Historic population growth: https://bit.ly/2sCFScu
U.S. rental prices squeeze: http://fortune.com/2017/09/15/housing-market-prices/
Seattle tech company offices map: https://bit.ly/2LvaROq
Seattle home price growth surpasses previous housing bubble: https://bit.ly/2HrTuga

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Seattle Housing Bubble? Are Homes Overpriced in This City? #buy #homes in the #USA #realestate

The young lions lack and suffer hunger; But those who seek the Lord shall not lack any good thing. – Psalm 34:10

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Comments

  • Population growth is destroying Seattle and many other areas of the US.

  • Could you do a video on hotel cost. Extended stays are going through the roof on long term monthly rentals. Certain cities have little to no availability due to the rental and real estate market, both out of control leaving people homeless or staying at overpriced extended stay hotels.

  • The weather. Summer is the biggest housing sale time. Winters are cold and wet and kids are in school so less homes are on the market.

  • Thank you. We are from the Seattle area and we are looking to move home. Plan to sell our house and rent in Seattle until the bubble pops. We are in tech industry. We already own one house in the area though that family members live in – it is an investment house.

  • Seattle is becoming more and more like San Francisco .. more high tech companies, housing is so expensive, more homeless people, drug addicts, the city is like a ghetto. It used to be beautiful .. not anymore.

  • So many pre foreclosures right now within the Seattle metropolitan area.

  • Ive lived in a county South of King County, once small suburb, majority of my life. Every field, tree,empty lot, patch of woods has been cleared for a housing development. Pacific Northwest also has high taxes and doesnt put their tax dollars towards road improvements they need to support population boom. Aka you like crowded areas, lots of traffic, high prices, oh and rain then move to the Seattle area.

  • My boss still thinks I'm a dumbass. He took out even more equity.

  • FOMO is in my opinion what is causing people in seattle to buy at such prices, they might have a good job at a tech company or something and they might rather buy a place than continue to rent since they will probably live there for a while. Buyers will run out eventually.

  • That the mainstream media appears to be against Trump is not necessarily an indicator that he is not a member of the elite. Rather, there has always been squabbles within the elite circles Trump is definitely a member of a the plutocratic elite having been born into wealth and never seen a day of manual labor in his life — his whole history before becoming President was one of plutocratic self service. Sure, Hillary is also a member of the elite that the elite behind the mainstream media tends to side with. But just because that media may be against a figure is by no means a reliable indicator that that figure is not also a member of the elite — he may just be a figure that is on the other side of a feud among the elite.

  • Wow did u hear about king county in Washington? 1000 new listings in one month! Most since 2008 and in one month doubled the for sale inventory! The wave is crashing full speed ahead!

  • During the housing crisis, home building was stagnant while all the foreclosures sold off. A ton of construction workers got laid off and a lot of builders went bankrupt. Fast forward to today and we have a shortage of construction workers that have left the industry and we are still 5 years behind on inventory. 6 months of supply is a balanced buyers/sellers market. Seattle today is at .9 months of supply. Seattle never really had a huge run up prior to the housing crisis like some places. There was about 14,000 houses for sale during the crash. There is only about 3000 houses for sale now. Short of a total collapse of the tech sector in Seattle, we are not in a housing bubble. The Housing crisis was the exact opposite – way over built and a complete disregard for lending practices. Lending has become a little relaxed recently but it is just becoming more normal ~ not as ridiculously strict as right after the collapse or ridiculously loose as it was prior. Five years from now prices could be significantly higher. Check out Britain, Vancouver, BC, Australia & New Zealand if you want to look a housing bubbles.

  • Detroit is gentrifying at least in the downtown area with demand for city living.

  • The same thing is happening to us in the tri-cities in eastern Washington, all the people moving out of portland, or and seattle are moving here and skyrocketing our house prices.. WTF!

  • Do Miami Gardens or miami Florida it’s going up ridiculously

  • The credit bubble is in full view again and when it burst this time the Fed will run out of juice or credibility and interest rates will go higher making payments too high for even tech sector incomes so prices will be forced down considerably and not just in Seattle. JMHO

  • Washington state is no longer the evergreen state …its a cesspool. …a criminals paradise. ….housing and jobs…there are non if your an american citizen. …..there is now the working homeless …..dont come to washington state if you want to have a roof over your head and food in your stomach !!!! Seattle is a dump now too…..criminals run the streets ….its like a third world country !

  • Mostly sensible viewers leaving their comments, much appreciated! (from Europe)

  • everyone from Cali is moving North!

  • I'm in Seattle and we were shopping a house from Feb through early May. The house market here is insane: to buy a house, it is very normal for the buyer to add $100K above asking and to waive all contingencies. For a 1970 house in bad shape, we made an offer 120K above the ask and waived everything, but still we didn't get it. It turned out that particular house was sold at price ($830K final) $160K over the ask, the house is in a bad shape and needs lots of fixing and improvements.

    The only good from what I see the house is its huge lot about 10,000 sqf. After that, we decided to lower our budget to target condos/townhomes, because I am afraid the crazy market will have a huge correction in the near future. For a townhome of $600K, we can take a max of 25 – 30% drop in its value without being knocked out/bankrupt. Finally, we settled on a 2001 condo of 3 bed/2bath for $550K. We have a growing family, the condo serves our needs 100%, even if it's not as nice as a SFH. I want to be practical rather than winning a pointless bid war.

  • All the world is a stage. You never heard of Good Cop Bad Cop?

  • Also another reason, foreign Chinese investors that bought in Seattle because they got pushed out of VC,BC so they moved south. The taxes were getting too high in Vancouver as well as regulations and rules for foreign investors, was too much for the Chinese to bear so they moved into Seattle which is a cheaper option but close enough for them to drive to Vancouver.

  • Tech companies more than others use their stock as currency for their workers. These stocks are still around all time highs. A 20% pullback in these stocks will put a major dent in their stock options and wealth.

  • I sold my 1-bedroom, 700 SF condo in Belltown, about a year ago. Belltown is right near the Space Needle, and is in the middle of the tech scene. I listed it for $400K. In less than a week, I got over 20 offers, and accepted one for $500K. I noticed a good number of the offers were from overseas. In particular, China. Quite a number of agents visited, and were using FaceTime on their phones, to show their overseas clients the unit. I think part of the run up is from overseas investors. Of course, Seattle is techy central. The entire city is becoming one big Amazon campus ( That's one reason I decided to get the hell out, by the way. ). If you like living in a frat scene, surrounded by brogrammers all day, than Seattle is for you. In any case, Seattle is also, of course, nearer to China and India. Seattle is known as the "Gateway to China".

  • There's a lot of investor activity in Detroit.

  • What about Boston, Massachusetts the Home prices are ridiculous any Advise on to buy or not ??? Boom bear

  • the last time the housing market crashed happened after the frenzy of home buying began. Supply and demand had nothing to do with it.

  • There's a dichotomy going on up here. We have a constant flux of Californian and most recently Asian cash buyers. So it's skewing the data. There's plenty of foreclosures and price reductions. The elements are rough on homes up here. A lot of homes will never get close to the asking price because honestly the forest is taking these homes back. Cash buyers bulldoze these homes.

  • Your videos are really good and educational. I'm in Las Vegas, I am taking this information and applying it to our market. Watching carefully..

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