Bad News In Rents, Good News In Utility Costs & It’s Not A Bubble

Home prices have hit record highs in some major U.S. metropolitan areas, and house-flippers are behaving like it’s 2005: It’s no wonder people are chattering about another housing bubble.

But residential real estate isn’t in a speculative bubble, industry observers contend. Instead, a low inventory of available homes is driving prices higher—prices, however, will eventually recede as buyers throw up their hands, or as more new homes come on line. The structural issues that led to the housing collapse last decade aren’t present.

It’s Not a Housing Bubble, It’s Just Expensive – Bloomberg

For the first time this decade, rents in the Seattle area are soaring faster than in any other big city in the country.

In fact, rents are soaring so fast that June’s 1.1 percent monthly price gain in the Seattle area beat out the growth that Chicago and Washington, D.C., have seen in an entire year. But most big cities have seen large rent increases that surpass the historical average.

Seattle rents now growing faster than in any other U.S. city – Seattle Times

Sawant wants to cap fees landlords charge Seattle renters – Seattle Times

12 Pricey Housing Markets Where Owning Still Beats Renting – National Mortgage News

Did micro-housing lose the war in Seattle? – Curbed Seattle

Latest Washington real-estate gold rush: farms – Seattle Times

Above-Average Gains in Home Renovation and Repair Spending Expected to Continue – Real Trends

WalletHub: highest and lowest energy costs by state – WalletHub

Source: WalletHub