Good post today about Seattle/Portland on Mish's Blog

[deejayoh]

[squidier]

Well, it does rain a bit more up here.



Great blog link, deejayoh, Mish's has been added to my list!

[Scotsman]

Wow- there's a lot of reality in that link if one is willing to open their eyes just a wee bit! Unfortunately, it mostly shows that many are completely oblivious to what is happening around them. While Mish has had it nailed for some time, it seems most of those involved in the industry are still somewhere between denial and blissful ignorance.

Even more frightening is the lack of appreciation for the fact that the same set of circumstances that gave rise to easy mortgage financing and rapidly inflating housing prices has also given rise to a global credit expansion that is about to collapse. In analogous real estate terms, while people are starting to notice cracks in the fresh sheet-rock, very few are aware that the river has completely undermined the foundation, and the house is about to be swept downriver.

[SeattleMoose]

But but but....we have Zune, Vista, and the $6 cup of coffee.

Bubble in Seattle?....rubbish!

[AwaySooner]

[meg]

[B]