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As a multi state worker, I prcahused a fantastic home in Federal Way last month and love the tax advantages of Washington. In many tax brackets that is a free home versus say California/ Oregon income tax of 10%+. Low interest rate, low prices means the last time someone had the same monthly payment I have was in 1985. That makes sense for me long term.Downtown is way over priced. Unless Seattle can produce the jobs, it will have a hard time asking for higher prices on a monthly basis. With QE2 ending in June 2011, the government will stop supporting zero interest rate to the banks, that means the monthly expense for a home will go up due to interest rates rising to pay investors which should cause housing prices to slip more to match the monthly payments.To put it another way, a $300,000 loan at 5% has roughly the same monthly payment as a $250,000 loan at 7%. I expect QE3 in February of 2012 in the run up to the election to settle the market down again but then you have to ask what about inflation? Low interest rate loans are a good thing to have when inflation runs wild. You eventually get paid more dollars that purchase less but pay off more old debt faster. Good 5 year position unless we get a full blown crash and depression.For those that own more than one home in different states, Washington is a good buy right now. That’s good news in areas outside of downtown Seattle since we should be near the bottom outside of downtown. At any lower prices, people will buy them with cash. Rate this comment: 0 0
By: | Jul 09, 2012 | Report Comment
shapewar
mzabor
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