[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).