I looked a little, and decided to wait. This article reflects a local act of faith, "Seattle is Different". (better)
I am not so sure. Is there any law that says that 25,000 new jobs will be created every year?
And everywhere I look, there are cranes building condos. If worse comes to worse, I miss a bottom, and possibly move out a few miles from the center, but on the new rapid transit line.
There is no reasonably priced single family housing that you would want to live in near the city center. And in fact, there is very little anywhere in the city of Seattle, except very expensive ($2+) new infill homes; and expensive to very expensive old but originally high quality homes.
All over the north end of town, 3-5 miles from city center, terrible old houses are occupied by a couple of yuppie lawyers. I suppose that barring a severe recession sometime over the next 20 years much of this will be replaced by multi-family, condos or rentals. It is already happening, with slightly attractive zero-lot- line townhouses and small condos.
The way I look at it, if I rent an attractive but old apartment, maintenance is on the landlord's dime. If I buy it, it becomes my problem. And I refuse to buy something that looks like someone forgot to flush the toilet.
I think one thing is a good bet at the right time- decent close in housing in safe neighborhoods. Supposedly where I live is safe, but there have been 3 murders near here in the last 6 weeks. (Areas with similar demographic but a bit more downscale.) There are only a few neighborhoods with urban amenities where the average non-adventurous person would feel ok, and still attractive yet close to downtown with reasonably good public transit.
These are going to be worth more every year I think.
Ever imagine what martial law would do for for relative real estate prices?