If there’s one word that comes up more than any other in the Seattle-area housing market, it’s probably “bubble.” George Moorhead, owner of Bentley Properties in Bothell, said the b-word comes up with just about every buyer he represents. “They’re getting very wary about a bubble,” Moorhead said. “It is very much a huge concern. The perception is: how long can this go?” Now a new national survey finds that 71 percent of adults across Washington are worried about a housing bubble and think prices are overvalued and unsustainable. That’s the highest rate of any state in the nation. The finding may not be surprising, since home prices both in the Puget Sound region and across the state have been rising faster than anywhere in the country for about a year now.
Source: Seattle Times