I think I’m going to have to call “listicle” on this one. Not that I don’t agree that the NW’s economy and housing market are in better shape than most of the rest of the country, but the table on the Moneywatch site ranks the Metros by a given percentage and doesn’t define what that percentage is or what it is supposed to mean. On top of which these are projections, not data.

I’d rather be known for being the “Most Sexually Healthy City” in America than the one with the most expensive housing.

“Tacoma Metro Area” are meaning basically the 253, or is this a sneaky way to hide using Seattle and Bellevue as well?
After all, Tacoma is finally now down to just being expensive. Up in the 206 & 425, they’re still somewhere in orbit around the moon.

First to rise is first to fall.
Last to rise is last to fall.
Those who rise the highest will fall the hardest.

Andrew and I just moved from Tacoma to Boulder. So maybe its just us. We should rent ourselves out to Miami and just watch their market turn around.

Maybe.

Here is another similar study that ranks Silverdale-Bremerton as the highest projected average annual percent change in the U.S.

This comes from Moody’s Economy.com and they sifted through employment and population data and analyzed geographic and industry trends to generate 10-year home price projections for each of the nation’s 384 distinct metropolitan statistical areas.

i shudder to think of what this must mean for the market elsewhere.

I don’t want to get into this again.
So I’ll repeat a few things I’ve said for the Nth time:

9.5%+ unemployment and rising.
Proper, if not strict lending standards.
Thousands of REOs that banks are sitting on.
Foreclosures & delinquencies are at record levels and rising… being led by prime mortgages!
Stocks have stopped their bull run and are stagnating, further increasing the chances of another test of this year’s lows.
$1.5 Trillion in ALT-As and Pay-option mortgages set to recast in 2009-2010
Rising interest rates
Continuing downward pressure on prices from distressed sales
12 month’s supply of houses (5 is considered healthy)
77 million baby boomers about to retire
Obamanomics and bailouts resulting in tax increases
etc…

Point being: don’t bet the house on anything other than stagnation in housing once it stops freefalling. There will be no “recovery”, just a return to normalcy. This recession, like it or not, is the cure for our woes, not the disease.
Don’t buy the propaganda of “green shoots” and stuff at face value. Do some thinking and research for yourself.

Last thing before I shut up… Remember this statement:

A depression is defined as a 10%+ decrease in GDP or a recession lasting longer than 36 months. “Officially” being in a depression is political suicide. As we approach 36 months, and as the GDP approaches being down 10% (we’re racing towards both), watch for the talking heads in DC and the MSM declare the recession to be over.
..and then amazingly we’re hit by another one! “Back to back” or “double-dip” recessions they’ll call it. But the truth will be obvious.

…anything other than a 20% decrease in housing seems laughable. We’re special here. But not that special.

Yes, I did read that. Unless inflation skyrockets into orbit, I would expect 5 years from now to be down 20% from today. Certainly not up.

I miss the days of sandwich talk as well, Altered Chords…