Economist: Lack of affordable homes in Puget Sound region is ‘lunacy’

Buying a home in the Puget Sound region has always been pricey, but recently, affordable options have all but disappeared from the market.

Economist: Things continue to get ‘worse’ for first-time home buyers in King County

The median price of a house in King, Snohomish, and Pierce counties has continued to ascend at astronomical rates, rising 12%, 23%, and 16% year-over-year in November respectively. And for those looking to continue moving outside those three areas in search of better rates, the options have been few and far between.

“Washington state as a whole became unaffordable a couple of quarters ago,” Windermere Chief Economist Matthew Gardner told Seattle’s Morning News.

→ Continue reading at MyNorthwest

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