BloombergTV Asks: Is U.S. Housing on Solid Ground?
In Conversation with Marcus & Millichap’s Hessam Nadji:
|Why construction levels are falling short of housing demand|
|Will renters buy houses, or has there been a structural shift?|
|How millennials' housing preferences are reshaping the market|
|Key housing market gauge suggests economic expansion|
|Apartment investments - why investors still see opportunity|
Lots of interesting new trends in the housing market! And what does this mean for Seattle?
Forbes lists the Seattle market as the 16th most overpriced city in 2015:
Seattle, Wash. MSA: Seattle-Bellevue-Everett, WA
Median Income: $86,027
Q4 2014 median sales price: $360,000
Housing affordable at median family income: 51.2%
Cost Above National Average: Groceries: 5.8%; Utilities: -4.1%; Transportation: 9.8%; Health: 18.7%; Misc.: 8.9%
As of this date, it looks like the Socialist incumbent on Seattle City Council has won re-election, based on her platform of affordable housing, rent control and living wages. Savvy investors will want to follow these trends to see how they play out in the real estate market.