Buying a house in Seattle
Mrs. Astronaut and I would really like to buy a house, but since we live in Seattle and don’t have a goblin hoard of gold in the basement, our outlook looks pretty grim. While it’s tempting, I’m not going to bitch and moan about not being able to buy in my hometown. I’m glad that Seattle has seen a lot of economic development over the past ten years. While the town isn’t as friendly or interesting as it was when I was in high school or college, there’s more to do, more shopping options, and we finally have interesting public landmarks.
However, the thought of buying a house in Everett or Auburn makes me want to bang my head against the wall. I was secretly hoping that Seattle was in the midst of a real-estate bubble and we would be saved by a sharp downturn in the market. Sorry homeowners, it’s nothing personal, we just can’t afford the $400,000 houses that pass as starter homes in this economy. Anyway, it turns out you don’t have to worry, if you trust this article anyway.
I guess we’re renters for life sweetheart. Fucking Seattle. I take back what I said about not complaining.
CNN - America’s riskiest real estate
Tags: RealEstate, Seattle
August 24th, 2005
August 24th, 2005 at 1:52 pm
I trust the article. Here’s to hoping one of us wins the lottery. If it’s me, I promise to buy you and Mrs. Astronaut a big house right next to mine. Or maybe it’ll be cool to live in Renton soon.
August 25th, 2005 at 10:01 am
Uh oh, looks like we are screwed either way:
Rents Rise as Home Prices Put Off Buyers
(August 25, 2005) — Rents nationwide—especially in such major metropolitan areas as Las Vegas, San Diego, Los Angeles, Miami, and Tampa-St. Petersburg—are on the rise as consumers apparently fed up with rising home prices instead are opting to rent apartments or houses.
The trend is occurring just as more and more buildings are being converted into for-sale condominiums, thus whittling down the supply of rental units in various markets. Across the country, the U.S. Census Bureau reports that the vacancy rate for rental housing slipped to 9.8 percent in the April-through-June period after rising to 10.4 percent—its highest level on record—in the first quarter of last year.
Global Real Analytics adds that the average rent nationwide climbed 2.5 percent from the spring of 2004 to the same period of this year, after having declined 4.5 percent from 2001 to 2003.
More and more apartment landlords, meanwhile, have raised the effective rent on their units by eliminating concessions while keeping the announced monthly rent around the same level.
Source: New York Times (08/25/05); Leonhardt, David
August 25th, 2005 at 3:23 pm
So, are you suggesting I have been banging my head against the wall?
August 25th, 2005 at 3:29 pm
um…did I say Everett? I meant Federal Way…bang, bang, bang!
August 25th, 2005 at 10:55 pm
ahh Astronaut thanks for pushing the “its so uncool I could not buy a house and live there” line as far south as Auburn. Being a homeowner and resident of Renton I avoided that cut off point by the entire municipality of Kent. I am sure I will not see you buying a house here soon - I will wait until you turn that 35/36 year corner and then we can talk.
Hickopolis I do seem to recall a Renton based new years eve event where a Seattle denizen who will remain nameless enjoyed herself so thoroghly matching all the guys shot for shot (no not in discharging firearms - although there is a gun range right next door) that she emancipated a stuffed animal from our nine year old and passed out on our bed - I think that was around 10:30???? Since she missed the midnight celebration maybe she will have to try again this year (we will just tell her to join in on every other shot).
August 26th, 2005 at 8:57 am
Uh oh, apparently Misanthrope has figured out my secret identity. (Fortunately, I now know his, too!)