About a month ago, I took a long weekend to visit Seattle. It was my first trip to the Pacific Northwest.
I expected to find a vibrant music scene, a world-famous coffee culture and some spectacular hiking trails - and I was not disappointed. What I did not expect to find, however, was a real estate bubble.
As this week’s chart shows, home prices in the Seattle area have grown 13.3% year over year. That’s more than double the national average home price growth rate.
And that chart isn’t the only indication of trouble in Pacific Northwest real estate prices. The signs of a regional bubble are obvious... if you know where to look.Read More