Is your market subject to the “Rare Trifecta”
A few days ago, Ian H Ritchie, wrote a very inciteful letter to the Editor, to the Seattle Times. He referenced a July 7th article by the Seattle Times on this markets real estate getting hotter and prices going higher and higher. His bet is that it will continue. He mentions all the angles and ideas reasoning the boom and considers them irrelevant.
Ian says famed economist Thomas Sowell has come up with the right answer.
“In Seattle we have the “rare trifecta” at work. It is as simple as water, mountains, and liberals. Mountains and water limit the building areas surrounding us and create natural borders and barriers. Liberals then attempt to eliminate much of the rest of the building areas by increasing lot sizes and setbacks from wetlands and streams and rural areas. If Seattle stays as liberal in the future as we are today, your retirement is your casa and it will only get more valuable.”
Thanks Mr Ritchie and Mr Sowell.
What forms the rare trifecta in your area?
Larry Cragun
View related articles: “the land grab”
