Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Moved back from the Bay Area after being gone for 18 years and feel as if I'm witnessing the same housing crisis all over again. Low housing inventory,bidding wars, inflated tech market, and far too many Californians .
I see the tech industry is thriving here and Seattle is becoming a major hub. How long can this all sustain?
Do Amazon employees as a whole generally have a short shelf life? I'm blindly looking at things as if these jobs are temporary albeit maybe full time for now but maybe have a shelf life of a year or two once frame work is in place.
What other fields are worth keeping an eye on in terms of expansion/recession?
Get one of those old black 8 balls. You know the ones with the little octogon inside that would provide various answers in that little window after you shook it. It will be about as accurate as any answers or advice you will get on a forum.
Moved back from the Bay Area after being gone for 18 years and feel as if I'm witnessing the same housing crisis all over again. Low housing inventory,bidding wars, inflated tech market, and far too many Californians .
I see the tech industry is thriving here and Seattle is becoming a major hub. How long can this all sustain?
Do Amazon employees as a whole generally have a short shelf life? I'm blindly looking at things as if these jobs are temporary albeit maybe full time for now but maybe have a shelf life of a year or two once frame work is in place.
What other fields are worth keeping an eye on in terms of expansion/recession?
Coffee. I think Seattle is ready for a highline coffee.
I worked in high tech in Seattle during the 2008 meltdown and Seattle was not that badly affected. At my company we all took a one-year 10% salary reduction to avoid lay-offs but that was it.
The city became too nutty for us so we left in 2013. We had an offer on our house before we even put it on the market! Somebody heard, word-of-mouth, that we were gonna sell and sent a realtor over to make us an offer on it. Crazy.
Friends of ours tell us traffic is a nightmare now. It was bad enough when we were there. Homeless people and heroin are also big problems now. Seattle used to be quaint and laid back but it is all grown up now with all the big city problems. Amazon runs the city.
Yes it seemed like Seattle was semi insulated with all the tech starting to happen here in the last downturn.
One scenario is puzzling to me..
Say the global market starts to fall in '21/'22 three or four years from now and proceeds to get steam for a few years. Wouldn't this force even more people to bigger cities to look for work and dry up inventory even more? Furthermore wouldn't this not only bring tech but expand the service industry?
This question is of great interest to me! We purchased a condo in Ballard in 2012 at/near the bottom of the market and it has now nearly doubled in value, which makes selling it very tempting. However, we have no mortgage on it so I would be content to rent it for another year or two if market projections are strong.
Oh I'm sure you'll be fine for at least two more years. In my research I don't see anything really changing for another 3 years. And it's going to be a slow start at that.
This question is of great interest to me! We purchased a condo in Ballard in 2012 at/near the bottom of the market and it has now nearly doubled in value, which makes selling it very tempting. However, we have no mortgage on it so I would be content to rent it for another year or two if market projections are strong.
2012 the bottom of the market? Haha, that is funny. There has not been a bottom of the market; it has been going up for the 35 years we lived there. Well there was the 1 year halt in 2008 but other than it has been up up and more up.
Say the global market starts to fall in '21/'22 three or four years from now and proceeds to get steam for a few years. Wouldn't this force even more people to bigger cities to look for work and dry up inventory even more? Furthermore wouldn't this not only bring tech but expand the service industry?
If Amazon has a setback for instance, people will get laid off and cannot pay their astronomical mortgages and will be forced to sell. The bubble will then burst and prices will tumble. But Seattle is so expensive that I would not expect an influx of people who are not brought in to a booming economy.
Nobody knows what will happen in the future. The economy goes up and down so it is reasonable to expect a correction but it is impossible to say when it will occur, how deep it will go, or how long it will last.
2012 the bottom of the market? Haha, that is funny. There has not been a bottom of the market; it has been going up for the 35 years we lived there. Well there was the 1 year halt in 2008 but other than it has been up up and more up.
The condo we purchased was $228 sq. ft. when we bought it in 2012--it was a foreclosure. The most recent units in the building have sold for $450 and $452 sq. ft. I do agree with you that prices have risen steadily since, and I would not get into that market today.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
. 
