Comments on: It’s Been a Bad Month http://www.urbnlivn.com/2008/10/18/bad-month/ Wed, 08 Sep 2010 00:49:00 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: howtobecomeaninja http://www.urbnlivn.com/2008/10/18/bad-month/comment-page-1/#comment-80977 howtobecomeaninja Mon, 10 Aug 2009 12:17:50 +0000 http://www.urbnlivn.com/?p=866#comment-80977 The problem, however, is a global economic meltdown. So, this is well out of the reach of any one man or administration fixing. Believe it or not, the TRUE economy is much worse than what even we see today. The current administration is doing its best to "keep it together" until after the elections are finished, meaning we are currently experiencing an artificially BETTER economy than what it actually is. The problem, however, is a global economic meltdown. So, this is well out of the reach of any one man or administration fixing. Believe it or not, the TRUE economy is much worse than what even we see today. The current administration is doing its best to “keep it together” until after the elections are finished, meaning we are currently experiencing an artificially BETTER economy than what it actually is.

]]> By: howtobecomeaninja http://www.urbnlivn.com/2008/10/18/bad-month/comment-page-1/#comment-73136 howtobecomeaninja Mon, 10 Aug 2009 05:17:50 +0000 http://www.urbnlivn.com/?p=866#comment-73136 The problem, however, is a global economic meltdown. So, this is well out of the reach of any one man or administration fixing. Believe it or not, the TRUE economy is much worse than what even we see today. The current administration is doing its best to "keep it together" until after the elections are finished, meaning we are currently experiencing an artificially BETTER economy than what it actually is. The problem, however, is a global economic meltdown. So, this is well out of the reach of any one man or administration fixing. Believe it or not, the TRUE economy is much worse than what even we see today. The current administration is doing its best to “keep it together” until after the elections are finished, meaning we are currently experiencing an artificially BETTER economy than what it actually is.

]]> By: Design Review Review | hugeasscity http://www.urbnlivn.com/2008/10/18/bad-month/comment-page-1/#comment-62473 Design Review Review | hugeasscity Thu, 13 Nov 2008 09:22:42 +0000 http://www.urbnlivn.com/?p=866#comment-62473 [...] development in Seattle may be in a slump, but there are still projects moving through Design Review. A sampling of the [...] [...] development in Seattle may be in a slump, but there are still projects moving through Design Review. A sampling of the [...]

]]> By: Mark W http://www.urbnlivn.com/2008/10/18/bad-month/comment-page-1/#comment-62276 Mark W Sun, 09 Nov 2008 23:47:47 +0000 http://www.urbnlivn.com/?p=866#comment-62276 An add on to my above note - In Saturday's Times' New Homes Saturday ad section was a "Dwell on This" column by Sam Anderson, the executive officer of the local Master Builders Association, offering "insight into the housing market." He wrote, "No one is naive enough to think that the economy will bounce back quickly, but some signs of recovery are already here. Nationally, sales of single-family homes increased by 2.7% in September, up from August sales." Obviously he didn't anticipate Friday's surge in unemployment from 6.1 to 6.5% when he wrote that, but taking a single data point from September to argue that signs of recovery are present is ridiculous. In addition he ignored other real estate data points re September sales (new home sales were down 33% from 9/07, and median price of those homes was down 9% yoy - see Sunday's Times), and of course that market bloodbath in October that wiped out a couple trillion in wealth. I'll take honest pessimism over false optimism. An add on to my above note – In Saturday’s Times’ New Homes Saturday ad section was a “Dwell on This” column by Sam Anderson, the executive officer of the local Master Builders Association, offering “insight into the housing market.” He wrote, “No one is naive enough to think that the economy will bounce back quickly, but some signs of recovery are already here. Nationally, sales of single-family homes increased by 2.7% in September, up from August sales.”

Obviously he didn’t anticipate Friday’s surge in unemployment from 6.1 to 6.5% when he wrote that, but taking a single data point from September to argue that signs of recovery are present is ridiculous. In addition he ignored other real estate data points re September sales (new home sales were down 33% from 9/07, and median price of those homes was down 9% yoy – see Sunday’s Times), and of course that market bloodbath in October that wiped out a couple trillion in wealth.

I’ll take honest pessimism over false optimism.

]]> By: jo http://www.urbnlivn.com/2008/10/18/bad-month/comment-page-1/#comment-62232 jo Sat, 08 Nov 2008 14:40:23 +0000 http://www.urbnlivn.com/?p=866#comment-62232 ration-l: it's just the time of year here in Seattle when everyone gets moody ration-l: it’s just the time of year here in Seattle when everyone gets moody

]]> By: Mark W http://www.urbnlivn.com/2008/10/18/bad-month/comment-page-1/#comment-62230 Mark W Sat, 08 Nov 2008 06:43:01 +0000 http://www.urbnlivn.com/?p=866#comment-62230 If the remarks were absurdly bleak, sure, lay off that speculation. But when the economy is going into a recession and local businesses are cutting jobs, it is a reasonable topic to discuss in the context of what that may mean for the local condo market. When realtors advertise that it's a great time to buy when prices are declining, knowing what's going on helps a buyer better assess how true that may be for the buyer. If local conditions suggest that prices may drop further, it's only a great time to buy for the realtor. The buyer won't get a refund on the commission if the value of the unit drops 10% after the sale. It impacts when we might see the next new groundbreaking, determine the next condo-to-apt shift, etc. Accurate news, even if it's bad news, helps people make informed choices. If the remarks were absurdly bleak, sure, lay off that speculation. But when the economy is going into a recession and local businesses are cutting jobs, it is a reasonable topic to discuss in the context of what that may mean for the local condo market.

When realtors advertise that it’s a great time to buy when prices are declining, knowing what’s going on helps a buyer better assess how true that may be for the buyer. If local conditions suggest that prices may drop further, it’s only a great time to buy for the realtor. The buyer won’t get a refund on the commission if the value of the unit drops 10% after the sale.

It impacts when we might see the next new groundbreaking, determine the next condo-to-apt shift, etc.

Accurate news, even if it’s bad news, helps people make informed choices.

]]> By: Ration-L http://www.urbnlivn.com/2008/10/18/bad-month/comment-page-1/#comment-62213 Ration-L Fri, 07 Nov 2008 19:04:41 +0000 http://www.urbnlivn.com/?p=866#comment-62213 In addition to MD's comments: many people are speculating that consumer psyche will drive the markets even further down than they naturally would without that factor. Maybe we should all lay off the pessimism a little bit, let the market do it's thing, and not contribute to making things worse than they already are. In addition to MD’s comments: many people are speculating that consumer psyche will drive the markets even further down than they naturally would without that factor. Maybe we should all lay off the pessimism a little bit, let the market do it’s thing, and not contribute to making things worse than they already are.

]]> By: AV http://www.urbnlivn.com/2008/10/18/bad-month/comment-page-1/#comment-61285 AV Tue, 21 Oct 2008 23:38:41 +0000 http://www.urbnlivn.com/?p=866#comment-61285 Mithun laid off 20 people back in June, did a firm-wide 10% reduction in hours & pay over the summer, laid off another 20 people about 2 weeks ago and made the pay cut permanent for all principles. These layoffs were a range of junior & mid level architects, PMs and even a couple principles. Ouch!! Mithun laid off 20 people back in June, did a firm-wide 10% reduction in hours & pay over the summer, laid off another 20 people about 2 weeks ago and made the pay cut permanent for all principles. These layoffs were a range of junior & mid level architects, PMs and even a couple principles. Ouch!!

]]> By: jon http://www.urbnlivn.com/2008/10/18/bad-month/comment-page-1/#comment-61261 jon Tue, 21 Oct 2008 17:44:18 +0000 http://www.urbnlivn.com/?p=866#comment-61261 It's been a while for a meetup... I am in. It’s been a while for a meetup… I am in.

]]> By: The Toll On Seattle Construction | urbnlivn on Seattle condos http://www.urbnlivn.com/2008/10/18/bad-month/comment-page-1/#comment-61256 The Toll On Seattle Construction | urbnlivn on Seattle condos Tue, 21 Oct 2008 17:16:17 +0000 http://www.urbnlivn.com/?p=866#comment-61256 [...] Surprisingly the article doesn’t touch on the layoffs at the city’s local architecture firms. [...] [...] Surprisingly the article doesn’t touch on the layoffs at the city’s local architecture firms. [...]

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