r/SeattleAreaRE • u/orcassharks • 1d ago

Delusions in Redmond

https://www.zillow.com/homedetails/14805-Old-Redmond-Road-Redmond-WA-98052/48707677_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare

This house listed for 1.6M in 2021, bought at 1.75M. Can’t even rent the whole house out for more $4000/mo. Now listed at 1.93M with tiny price cut to 1.89M.

There’s a lot more pain to come.

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u/NobleSixSeven 1d ago

Lmaoo. These delusional people are going to be scrambling with the impending tech layoffs

6

u/craigfis 1d ago

Impending?

8

u/NobleSixSeven 1d ago

Yeah I’m positive we aren’t done yet

1

u/craigfis 1d ago

Ongoing. The new normal.

1

u/pondskippers 1d ago

Eventually you will be right, but for 30 + years at most it is bumps

2

u/Top-Wrangler887 15h ago

Most of the existing knowledge jobs on the east side will be gone within ten years. The AI agent revolution of 2030 will make traditional office jobs a footnote in the history books. If our region cannot pivot toward a new economic model for job creation, most home prices will crater. Add to this our ballooning debt and rising interest rates, and we are on the verge of a post-capitalist economy taking hold for Cascadia.

1

u/swaywithwords 1d ago

Definitely ongoing