[prohornblower]

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From what i've heard is that the housing market in the seattle/bellevue area is still going up (while the rest of the country is going down). First, is this true? Second, if it is, then would it be a good idea to purchase a high-rise condo in the bustling and super-fast growing downtown bellevue?

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I'm not sure if it's true or not, but if it is, lol at buying into that market right now. Major lol. Terrible idea.

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why is it a bad idea if the market is still growing in that area?

so what should i do instead then? rent for a few years until the market stabilizes?

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Because that market is already way overpriced as it is and you're telling me it keeps getting worse. I'd assume you can't treat Seattle like it's in a vacuum. Take a look at what is happening across the board (across the US). Prices are plumetting. I can't predict the future, but my intuition tells me that if Seattle is still doing well, it may be a matter of time before the same happens there.

But hopefully some of the other smarter folks will chime in here. I don't know much about RE. You may want to rent and save. Take a look at the cost of renting vs. the cost of owning in the areas of which you speak. (Bellevue, etc.)