Waterbuffalo
10-29-2007, 06:07 PM
Saw this in the Seattle Times recently and going to post an excerpt of it here:
<b>" By Nicole Brodeur Seattle Times staff columnist Friday, October 26, 2007 - Page updated at 02:03 AM
Each day, former Seattle Mayor Norm Rice leaves the house he wouldn't be able to buy today, and thinks about those who can't buy at all.
Last weekend, he joined PBS and KCTS in taping a "By the People" meeting at which 100 citizens tried to get a handle on housing costs in King County. "Not housing just in terms of homelessness," Rice clarified the other day. "But housing and, for want of a better word, the challenges facing us."</b>
<b>"..King County's median single-family-home price last month was $450,000. With 10 percent down at 6.25 percent interest and a 45 percent debt ratio, a buyer would need to earn $99,000 a year, according to Lori Richmond, a certified mortgage planner with Golf Savings Bank in Seattle."</b>
You can read more of Nicole's column with more facts and ideas here where I quoted her. There is so much more in the article I thought I'd let every one else read it instead of me carbon copy and paste it here..
Location is here: http://seattletimes.nwsource.com/html/localnews/2003975565_brodeur26m.html
<b>" By Nicole Brodeur Seattle Times staff columnist Friday, October 26, 2007 - Page updated at 02:03 AM
Each day, former Seattle Mayor Norm Rice leaves the house he wouldn't be able to buy today, and thinks about those who can't buy at all.
Last weekend, he joined PBS and KCTS in taping a "By the People" meeting at which 100 citizens tried to get a handle on housing costs in King County. "Not housing just in terms of homelessness," Rice clarified the other day. "But housing and, for want of a better word, the challenges facing us."</b>
<b>"..King County's median single-family-home price last month was $450,000. With 10 percent down at 6.25 percent interest and a 45 percent debt ratio, a buyer would need to earn $99,000 a year, according to Lori Richmond, a certified mortgage planner with Golf Savings Bank in Seattle."</b>
You can read more of Nicole's column with more facts and ideas here where I quoted her. There is so much more in the article I thought I'd let every one else read it instead of me carbon copy and paste it here..
Location is here: http://seattletimes.nwsource.com/html/localnews/2003975565_brodeur26m.html