Is this a sign when everyone thinks they're immune to a crash of real estate prices?
A Post-Intelligencer headline a few days ago reinforces a common narrative: "Seattle may escape housing bubble." The cost of a home may be a problem for much of the country, but not here. We're special. We don't need to worry.
Then it all depends on why housing prices go down. If housing prices decline because of market conditions, Seattle will escape the pain felt elsewhere.
Read full article: Housing Prices: Escaping a Bubble via seattlepi.com
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