[seanmcdirmid]

In Seattle it is really difficult to find decent houses to buy right now, buyers are panicking and prices have increased significantly in the last couple of months.

My guess is that hot areas are getting hotter and colder areas are getting colder, but COVID hasn’t changed that trend yet.

[itslennysfault]

tbh I feel really bad for anyone that buys during this panic phase. We are almost certainly headed for the largest recession in US history, and I don't see a future where housing prices don't crash as a result.

(I'm also in Seattle and waiting for that to happen before I buy)

[seanmcdirmid]

True I had the same concerns, but super low interest rates distort the picture. Also, while buying now is risky, you are likely to only lose one or two hundred K of value in a recession at most, and that will pop back over time, so long term buyers should be OK.

Paid way too much recently for a townhouse in Ballard, but at the end of the day it seems like a pretty sound decision (we aren't buying for investing, but for living).