u/Upper-Computer-8715

As a real estate agent I see housing activity but also talk to 100s of people and have visibility in the local employment scene and its DIRE. Everyone from software engineers to school teachers, daycare workers, doctors and nurses and insurance agents and retail service execs work with us and our firm for house purchases and sales and last 6 weeks this is what's happening.

1. With gas and diesel prices up because of the Iran war (thanks trump), many are pulling out of offers, continuing to rent, or planning to move out of WA state.
2. Teachers and other employees in education no longer make enough to sustain their lifestyle. Driving to a Redmond school with high gas prices, high insurance, high rents and property taxes is no longer a viable option without a 20% salary bump.
3. Higher middle class folks are complaining about grocery prices impacting their wallets and disposable income.
4. 1000s of tech employees are unemployed for 6+ months, running out of unemployment and worried about their future.
5. 1000s of tech employees on work visa who have lost jobs are running out of time and planning to pack up and go back to their home country (in the world of real estate this is a very clear and tangible trend since May).
6. Plumbers, electricians, landscapers, blinds installers- you name it- have increased their visit fees by $20-$30 because of the higher burden from gas and diesel gas spikes.

Don't forget that before the attack on Iran, things were quite rosy in our area. Fuel costs impact everything. Not to mention the 35 cents per gallon carbon tax that WA states adds in addition to the gas tax. Voters had a chance to overturn the carbon tax in 2024 but chose to continue it.

Our firm also has market data across other segments of the local economy and are seeing a dramatic breakdown since early August across all growth trends.

Thanks Trump and thanks to everyone who voted for him.

Since Trump Took Office:

Gas +39%
Diesel +69%
Utilities +15%
Jet fuel +100%
Health care +13%
Ground beef +25%

Elon Wealth: +122%
Wall Street Profits +22%
CEO Pay: +14%
Real Wages: +.5%

Trump Wealth: Doubled.
Trump Cabinet: 8 members worth $100M+

Do you fucking get it yet?

It’s the only house in a 500 acre park stretching to the ocean. Very affordable HOA ;)

Truly sad to hear. I just sold a house in Redmond to a couple. The husband works at Qualtrics. Hope he is not impacted. Fortunately the offer was completed and closed in mid July.

As a real estate agent, I see a seismic shift in the tech employment scene here. There is panic and potential buyer's confidence is the lowest we have seen in 7 years.

https://esd.wa.gov/employer-requirements/layoffs-and-employee-notifications/worker-adjustment-and-retraining-notification-warn-layoff-and-closure-database

Hey Hey Fellow Realtors! I have some clients that are thinking of relocating to Central Florida - Tampa Bay or Orlando area (they are not sure) - and there are soo many houses on the market for sale. They asked me if I knew what was going on with so many properties available to purchase. They are nervous about buying as they think the prices will decline since the inventory is oversaturated. Can you guys share some honest insight? Thank you! - Charlotte, NC

“Homeowners aren't forced to find out what their home is really worth until they put it up for sale. "Most owners are locked in with a perception of high value, without actually being forced to turn it into liquidity," he wrote.”