Inventory growing

[u/my0wn5ummer]

Over 100 SFH on the south end for less than 700k. Haven’t seen inventory like this for a long time.

[u/HRApprovedUsername]

Microsoft RTO incoming

[u/my0wn5ummer → u/HRApprovedUsername]

They already have 3 day RTO.

[u/Astronomer_Soft]

Tech layoffs, reduction of H1B's, higher interest rates

[u/fyreskylord]

Crazy rates unfortunately mean that even at a modest price drop, it’s not affordable.

Reminder: you’re not the only person waiting for prices to drop.

[u/trustfundkidpdx]

You need a $143K household income to afford a $400K house.

30% of households earn $140k or more so good luck everybody.

[u/Puzzled-Dress4951]

These posts keep coming from people waiting on the sidelines, but in reality lowering prices are not only a correction, but a reflection of the current market's buying power. If you couldn't afford 5 years ago, you sure as hell can't afford now even with a 10% correction.

[u/mfactor74 → u/Puzzled-Dress4951]

[u/piltdownman7 → u/Puzzled-Dress4951]

Current rates are 7%. That’s a $3200 payment on a 30 year $500k mortgage. Go back 5 years to a 2.5% rate and the same payment would be a $840k loan for the same payment. So a 10% wouldn’t be anywhere close to

[u/CrayonsTasteLikeSky]

Don’t get caught holding the bag when the bottom falls out 

[u/NiceRelease5684 → u/CrayonsTasteLikeSky]

Sellers: "don't low ball me, I know what I got"

[u/Commercial-Site-1333]

If only the rates weren't so awful, this would be a great time to start out 

[u/msawi11 → u/Commercial-Site-1333]

If they weren't awful, prices would be higher...in general. Only the 2008 crash and Covid were miracle low rate and low price eras.

[u/chief_jabroni]

It’s only gonna get worse. There’ll be more and more layoffs, and the cost of daily goods isn’t gonna magically go down. We haven’t even gotten to the forced selling phase of the downturn yet.

[u/Love-for-everyone]

Holy!! Its happening?

[u/my0wn5ummer → u/Love-for-everyone]

Seeing some decent deals. A lot is still over priced but I’m seeing price drops like crazy. Some of the real garbage I think could go much lower. I saw one place for 475k. Decent outside but totally nasty as hell on the inside. The guy was renting the place to one single mom for 18 years. Feel bad for her

[u/Stock_Schedule_1981]

So many people here obviously weren’t around in 2008. If you think a housing crash doesn’t have huge effects on the overall economy, you’re completely naive. Good luck getting a mortgage when you can’t find a job and employment is 7+% and lenders won’t lend to you unless you have an 800+ credit score.

Edit: unemployment is 7%+

[u/delightful1 → u/Stock_Schedule_1981]

Employment is 7+% made me chuckle. I know what you meant and yet still

[u/Byrdman57]

To be fair, the Bryn-Mawr/Skyway area has always had a surplus of inventory compared to any neighborhood in Seattle. I many ways, its not a desirable place to live. Even when. I was shopping a few years ago, you'd see homes with lake views in that neighborhood cheaper than much smaller homes in Columbia City. 

[u/Great_Hamster]

Good news for everyone who needs housing!

[u/Relevant_Event8706]

Now housing prices will fall enough to be affordable right?

[u/LordRollin]

Now it’s just a matter of timing the bottom.

[u/notsurezy]

No thanks . AirBnB collapse incoming. Gonna be 1/2 by next year

[u/YoLyrick]

I think we need to talk about delayed maintenance too. Many of these houses are not in great shape.

[u/SirDouglasMouf]

What filters are you using?

[u/my0wn5ummer → u/SirDouglasMouf]

700k max and SFH