Hood River is not a Suburb in Nevada

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Hood River is not a Suburb in Nevada

More thoughts.......

There's a Case/Schiller index (I think) that points to the Northwest as being "overvalued." Now, I'm going out on a limb here, but the reasoning they use to point out why the Northwest will go down in the future is because "traditionally, the Northwest trails the United States by up to 24 months"

Now, that can often be considered true pre-2000, but I find it hard to believe, in this era of desktop underwriting, and 24 hour news cycles, that the Northwest could be that far behind............

The fact is, in our area at least, those crazy financing vehicles never caught hold, and didn't penetrate as deep into our marketplace as in....say, Arizona or Nevada. Prior to the run up, the Northwest had a very low valuation of housing as a whole, the lowest on the West Coast, if I remember correctly. (I remember that Idaho had alot to do with lowering those values BTW)

Further, cultural shifts have tended towards Northwest strengths, over and over and over these last few years. Outdoor recreation, return to Stewardship based resourced economies, and Regionalism, all play to Northwest strength.

Will I go so far as to say Case/Schiller is wrong? No. I will go so far as to say their lexicon might need to change. Additionally, we have seen a correction, we are just not seeing that gaping maw that is consuming others.

As for Hood River? We don't have those endless rows of cookie cutter housing, and our inventory isn't large, and it's shrinking.....I know there are many people out there who think the bottom is going to fall out, and if the mortgage markets freeze up, it most certainly will, but in that case, no one will be able to buy anything. Then the pundits will be correct, but not able to buy anything.

Hood River is not a suburb in Nevada. The Northwest is not Nevada, looking at a national framework that doesn't consider the tack the Northwest has chosen makes us look like an outlier, to be certain, but not necessarily, wrong. (I would use the term "overvalued" here, in the place of "wrong," but im still not 100% sure. I'm just sayin.....)<div class="blogger-post-footer"><img width='1' height='1' src='You are not allowed to view links. Register or Login></div>

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