Homes in Snohomish Suburbs and Exurbs Suffer
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."