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‘Jobless in Seattle’ on NBC News

Posted by Geeky Swedes on January 29th, 2009

Wave after wave of Seattle layoffs have been in the news over the past few weeks. While many people in Ballard have been impacted, sometimes we may not realize the magnitude of the recession until we make national news:

Another way to get a sense of the scope of our local economic troubles is by looking at this listing and map of homes in foreclosure in the Ballard area. Sure, buying in Ballard isn’t going to solve all our problems, but it’s one important way we can help our neighborhood in tough times.

Plus: Join the Buy in Ballard Facebook group to spread the word

Tags: Ballard   Facebook

  • susan
    About.com choose 3 websites where job seekers got the best results -

    http://www.linkedin.com (networking for professionals)
    http://www.indeed.com (aggregated listings)
    http://www.realmatch.com (matches you to the perfect job)


    For those looking, good luck!
  • blueben
    I wouldn't bet anything on Microsoft. If Windows 7 isn't a notable success, they're heading for major disaster. Most of their businesses aren't profitable, and if OS sales don't get their act together the company is going to have a very different future that looks nothing like the prosperity they've enjoyed over the past 15 years.
  • YoMomma!
    Good luck RebA.
  • ScubbaSteve
    I love you people.
    So kind. :)
  • social awarness

    http://www.work-ethic.net

    start a discussion here
  • Linda
    RebA
    Take a look here http://www.washington.edu/admin/hr/jobs/
    Even though the State has a hiring freeze there are alot of jobs listed that are open and hiring
    you would need apply on line
  • Joey
    I know hundreds of victims of WaMus collapse.
  • E/C
    silence.kit..sorry you hate your job...no wonder you insist on correcting people's grammer usage...look for a job in the english dept..
  • grayhouse
    I too thought it was "less the norm" when reading it but you just never know.
    The book was written by John R. Talbott and it was a "campaign piece" for Obama for sure. However, much of it was very revealing and useful for understanding how Obama views the state of the economy and whose interests are his priority. Yet, there are certain chapters that were clearly pulling on the heart strings of the lower middle class.

    The full title is: Obamanomics, how bottom up economic prosperity will replace trickle down economics.

    On another note, nice to see the compassion on this post, I too say, hang in there, those who are scrambling- each lead, each opportunity has potential- in the meantime, reserve space for gratitude (even if all you can muster is tiny). Good luck.
  • BlackSheep
    RebA, I don't think anyone thinks you are complaining - most of us are either where you are, or afraid of being where you are.

    Hang in there, I hope you find something soon. Sorry Trader Joe's didn't work out. I applied at their Burien store years ago, and was also not chosen. Just shows what they know, right?

    Maria, I think your post is spot-on.
  • silence.kit
    Wow. I hate my job. It's boring; it doesn't challenge me, and it could definitely pay more, but at least it's a job and I can pay the bills.
  • jm
    Obamanomics? Sounds like a stupid book. Is Rush Limbaugh the author?
  • Maria
    Tightening of credit is also behind many foreclosures. Because housing has been so over valued for so long in Seattle, many have used credit for daily living in order to pay huge mortgages. Many who bought before the boom have been using their equity to fund lifestyles that are not sustainable on their salaries alone such as $50,000 vehicles and taking the kiddies to see a mouse once a year or paying high college tuition for those same kiddies when they get a bit older. Now lenders are cutting off home equity loans, lowering credit limits and raising interest rates. All of a sudden mortgages cannot be paid. It’s not just flippers who are in trouble.

    In addition the sub-primes were just the start of the creative lending problem. We have not seen the balloon payments or interest only loans come due. We have also over built condos and development in the burbs. This is not going away for a long time and there is no say to bail it out without perpetuating the problem. We can’t loosen up lending or we just create more of the same. There really is no answer except to bit the bullet. That means lots of houses lost and lots of businesses closed.

    This is not all doom and gloom. Housing needs to get back to a reasonable balance with wages. The same with other consumer commodities. They will. Rentals follow housing prices and already we are seeing rentals drop in the hardest hit areas like the east side.

    This article deals with jobs and that is a scary place right now. Think need over want and you will look for a job in a smarter way. Look for a job that deals with what people need and not what people want and you will have more job security. Swede is lucky and I think Amazon is stable. I agree they will likely trim payroll some and may cut back on building but they seems to be an intelligently run business. I would not say the same for Starbucks and can easily see them gone or bought up within a year. Microsoft is an evil empire and they always survive but the early millionaires will be richer and the workers poorer. Boeing will be fine. Weyerhaeuser is toast. Large construction is in real trouble also unless they have been wise bidders. I have two nephews who are union plumbers and their employer has bid on nothing but public works for the next 10 years so they will be ok though likely not working the overtime they have been enjoying.

    RebA it sounds as if you are in a very bad place. I was in about that same place in 1974 when there was a sign on I90 that said The Last Person Leaving Seattle Turn Out The Lights. Remember what George Carlin said. “Life and success is all luck and timing and really timing is luck also.” Keep looking and work had on getting something in the public sector.
  • markyofballard
    It nice that Amazon is still solid at the moment but.. that shoe could drop any moment. Just because they posted profits that don't mean the bean counters won't decide to cut jobs. Amazon is not a stupid company. At they same time they will use this down job market to get some of the $$$ talent on the cheep . So I bet that this "review" period they let some not so well performers go. ie cut jobs in the good old corp way.
  • blueben
    It's possible, but unlikely. Here's the likely scenario.

    Houses are too expensive. They are unaffordable on a single median income. However, they're just barely affordable on *two* median incomes. Most of our neighbors are running dual income homes. But here's the problem. If either one of them loses their job, gets a major illness, divorces, or dies, that's it. They can't pay all the bills and cover the mortgage. They planned poorly and they're now in a very bad position.

    The best illustration of this is very succinct. 90% of bankruptcies are declared for one of the reasons I just listed above. Job loss or major illness, divorce, or death.
  • Ballardog
    You can walk away from your home loan without them coming after your bank account. It's not a difficult decision if you are upside down a couple hundred grand if you ask me. As far as walking away with profits I think that is more the exception than the rule. Just think if you were upside down 200k and you could not declare bankruptcy or walk away. That is the case in other countries.
  • grayhouse
    has anyone read Obamanomics... the chapter that describes the following? ... people bought houses before the boom, sold them for a huge profit during the boom, banked the money, got a ridiculous loan for a million dollar home and then when the home lost its value, just gave it back to the bank and walked with their 1st home profits and bad credit. I'm skeptical, but maybe its possible.

    Is that scenario realistic? Could that be what is happening with those $600k+ home foreclosures in Ballard?

    (ps, I hate that every time I type ballard, I get the red spell check underline... is it just me)
  • Crappy Shit
    Yep me too
  • Swede'N'Need
    I got really lucky...Last week I got a job s a controller at Amazon. I found out today that since the company's earnings were above expectations I get a $1500 bonus. This will really help pay the bills. Thank god for a UW MBA. I went from 85k to 46K to 98K a year in three years. Safe to say I am grateful for the Seattle economy.
  • RebA
    I'm looking for the non glamorous work. I even applied for the new trader joes and didnt get it. Reception, cust service, food service/retail. I'm mostly looking in those sections. I live pretty simply (thankfully)so I dont need a lot of money.

    I hope others readers of myballard.com are having better luck than I am.

    (please I hope no one thinks that i'm complaining or such, I'm thankful for what I do have, I just wish I had a job too so I could support the local businesses more)
  • Maria
    I’m sorry Reb. Have you tried USAjobs? It is not easy to get on but they have listings right now ranging from entry level secretaries to biologist and engineers, wages from $30,000 to $120,000. It’s not glamorous but it pays the bills. What are you looking for?

    I have seen most of the listing on the above site on redfin and zillow now for months. Saw one today that sold for $289,000 this week. Sold for $415,000 in 2007 and $350,000 in 2005. It had to be a tear down, (area and condition), but I do wonder at what the story is. Housing is really turned on it's ear right now.
  • gooner
    i have never been so thankful to have a job that i, for the most part, can't stand
  • RebA
    I know I've been out of work since Oct 1. Looking through every job site, every day. Some days its so frustrating. But I keep remaining hopeful that I will find work as well as about 10 of my friends who are also unemployed.
  • ivy
    yikes.
  • Bark more, Wag less
    We made the news!
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