Homes in Snohomish Suburbs and Exurbs Suffer

Mark Hinshaw writes that back in 2006, developers were snatching up any bit of undeveloped land in Snohomish County, WA. Today, those far-flung projects have suffered much more than inner-city developments.

Hinshaw surveys the Puget Sound landscape:

"Many of the communities and neighborhoods closest in to the center of the Seattle metropolitan area - areas with significantly higher densities and older housing stock - actually performed reasonably well during the recession. Value was lost, certainly, and some loans are under water, but there is virtually none of the wildly oversold and overpriced housing found in the outer suburbs and exurbs. A similar pattern is found near other urban centers such as Bellevue and Kirkland."

Full Story: Sick suburbs, expiring exurbs


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