I was at one of my favorite watering holes the other day, the Screwdriver Bar on First in Belltown, and it was a Tuesday evening. The place was packed and it was Tuesday! I was most likely the oldest one there. A sea of 20-30 somethings each spending hundreds of dollars on slushy cocktails, (Frozen Harvey Wallbanger anyone?) high-end whiskeys, and not a care in the world. Sitting next to me was a young man, a self-proclaimed economist, and not a 150g a year start-up, techy, or Amazonian, like most of the kids who were there that evening. The young economist says to me, he says, ‘most of the people moving to Seattle are low income families and they’re ruining the market. That’s why I’m not gonna buy.’
The truth is, I’m having a really hard time. This week I wanted to just do a neighborhood review of Belltown. I wanted to talk about all the cool places to eat, drink, play, all within just a few square miles. I was going to start with The Screwdriver Bar, then bar hop around till I got hungry. Let’s talk about how wonderful it is to be within walking distance to parks, theatres and a wildly diverse nightlife. But no. I had to run into this “economist.” There seems to be a plethora of excuses out there to be afraid. I truly hope I do not have to explain to you how profoundly wrong this young (I have to use air quotes) “economist” is.
Next week I’ll start some neighborhood reviews and try to highlight as many of the great neighborhoods in Seattle I can from Skyway to Mountlake Terrace. Today though I just have one thing to say.
Save money and buy now because interest rates are starting to tic up. These are the lowest interest rates you will see in your lifetime and in spite of rising rates, values will also increase.
One last thing. A quote from Matthew Gardner’s FB page that deserves a look.
Matthew Gardner The economy is quite likely to do well with government control divided between parties. I didn’t always believe this but I have been persuaded by the late economist William A. Niskanen who said,
“Our federal government may work better (well, less badly) when at least one house of Congress is controlled by the opposing party. Divided government is, curiously, less divisive. It’s also cheaper. The basic reason for this is simple: When one party proposes drastic or foolish measures, the other party can obstruct them. The United States prospers most when excesses are curbed, and, if the numbers from the past 50 years are any indication, divided government is what curbs them.”
A note on the last Wednesday, So There