Hi Ilyce, I enjoyed your appearance on Talk of the Nation on NPR earlier today. Places like Florida, Calif and Mich are getting a lot of attention and talk time regarding dipping sale prices, foreclosures, etc. I am curious how the real estate market looks in the NW (Portland, Seattle)? I understand the NW has seen decent growth in the last 4 years though nothing as exuberant as places like CA or FL. How does the future of housing prices, in your opinion, bode for the NW then? Many thanks.
Places like Seattle and Portland are still growing by leaps and bounds. I think that where you have major universities, major employers in the ever-important technology industry, and a healthy tourism industry, you’ll have growth. While there is some slowdown of the marketplace in these areas, I don’t expect the kind of crash-and-burn scenario that some real estate industry experts are projecting.
Again, it’s all about what’s going on locally. There are good places to buy and good deals to be had all over the country. There are also dreadful neighborhoods plagued by foreclosures that will take 5 years or more to work out.
The next year will be really interesting to watch.
June 25, 2007