Wednesday, September 27, 2017 / by Christine Andreasen
This is a continuation of my last video, where we just scratch the surface of what’s going on with our real estate market.
Welcome to Part II of “Are We in a Real Estate Bubble?”. This is a continuation of my last video, where we just scratch the surface of what’s going on with our real estate market. Today, we’re going to dig a little deeper. You’ll have to bear with me for this video- it’s a bit longer. That’s how it is.
Before I really dig deep, I should let you know that my previous caveat still holds true. If you’re looking for “The Answer”, you’re not going to find it. There is no straight answer to this question, and it’s a mistake to believe that there is one. You’re not going to know if and when we’re at a peak in our market. You’re never going to know because it’s not possible to know. The only thing that you can be confident in is that you don’t know- and tha ...
Thursday, September 14, 2017 / by Christine Andreasen
Nobody knows whether our Seattle market is in a bubble because that kind of thing is impossible to know.
This is Part I of a two-part series. To check out Part II, click here.
Are we in a bubble? Will prices be coming down in our market soon?
In reality: I don’t know. The truth is, nobody knows. We’d all be better off if we didn’t have to answer this question because nobody really knows the answer. As famed economist and diplomat John Kenneth Galbraith once said, “The only purpose economic forecasting has is to make astrology look respectable.”
You’re not going to know if and when we’re at a peak in our market. You’re never going to know because it’s not possible to know.
I was on my annual ski trip this past winter with some friends when, as luck would have it, I got a chance to speak to a retired economist from the Federal Reserve about this subject. As a Realtor, I thought this was a g ...