Growth relief is on the way! (Seattle, Kirkland: real estate market, rental, house)

[noah]

How? Seattle has 650k, Mexico city over 8 million. Even from a metro wide point of view Seattle likely won't crack the top 10 of the U.S. anytime in the next 5 years.

Originally Posted by 87112

It will never stop growing, Mexico City proper and Seattle proper will be same population in about 5 years. A wall might be needed to keep the world away.

[87112]

Originally Posted by noah

How? Seattle has 650k, Mexico city over 8 million. Even from a metro wide point of view Seattle likely won't crack the top 10 of the U.S. anytime in the next 5 years.

Don't worry it will happen. In 5 years the average house in Seattle will be 2 million and that will be considered affordable.

[xboxmas]

Originally Posted by CrazyDonkey

You might want to make clear that the article is talking about population growth (not economic growth) in metropolitan areas (not cities proper).

Population growth in the Seattle metropolitan area is hampered by geography, transportation infrastructure, and density NIMBYism. While ST3 is expensive, we're playing catch-up. At which point slowing pop. growth crimps economic growth remains to be seen - as it is, the hottest job markets simply fill skill/expertise deficits by importing it from around the nation/world, pushing those with less much further out or into downsized/alternative housing options (roomshares, micro-apartments, apodments, mother-in-laws, etc.).

I agree that slackening population growth could be a good thing. On the other hand, it could just indicate we've maxed out on density.

I think its more so Seattle proper that is hampered by geography. There is still a ton of available land east of Seattle. I think places like Monroe, Snohomish, etc. have a lot more growth potential.

[xboxmas]

Originally Posted by Seacove

What are you basing your theory on? Seattle is definitely growing very fast. Do you live here? Have you lived here?

Seattle and its surrounding counties added 86,320 new residents between April 2015 and 2016, marking the region’s biggest population gain this century, fueled in large part by the region’s technology industry.

In other words, an average of 236 people are moving to the Seattle area each day

Seattle region's population growing at historic pace, making biggest annual gain in a century - GeekWire

You reference the Census and what I find there is this:

U.S. Census: Seattle now fourth for growth among 50 biggest U.S. cities | The Seattle Times

How about traffic?

Study: Traffic in Seattle still horrible, ranks 2nd-worst in U.S. for evening rush hour congestion - GeekWire

How about housing prices?

Seattle-area home prices surge to new high | The Seattle Times



Totally agree. Seattle is a beautiful place where this population growth can only hurt it. There's healthy growth and there's insanity. While weather helps us and we need to keep reminding people of the rain, the increasing housing costs might also help slow growth.

The rain is a welcoming relief to those who want to escape the heat. That's the reason why so many move here.

[CrazyDonkey]

Originally Posted by xboxmas

I think its more so Seattle proper that is hampered by geography. There is still a ton of available land east of Seattle. I think places like Monroe, Snohomish, etc. have a lot more growth potential.

And you could throw Duvall, Carnation, Sammamish, and Enumclaw into that mix - all those areas, however, are already overwhelming current infrastructure. All are already awful to just plain bad commutes to Seattle, if not quite as bad to Bellevue. You'd need to have major infrastructure improvements and/or repeal the Growth Management Act to push density much further east, it seems to me. Light rail getting to Issaquah could change things somewhat, but that's still a good way off, even if ST3 passes.

[Seacove]

More on the housing growth today:

Home costs have now been soaring consistently for more than four years, and have surged 59 percent since 2012, easily surpassing the old pre-recession high, unlike the rest of the country.

Homes continue to cost more and more in large part because there are fewer and fewer houses available, leaving buyers to compete over limited inventory. But another batch of new data shows just how much homebuyers have to fight for scraps.

Seattle closing in on Portland for crown of hottest home market | The Seattle Times

[Minntoaz]

And Amazon didn't make their targets. Give it time people. It'll happen.

[Seacove]

Originally Posted by Minntoaz

And Amazon didn't make their targets. Give it time people. It'll happen.

Says the newcomer from Minnesota?

[87112]

My parents have a 5 bedroom 3 bath 2 car garage in Beacon Hill close to the freeway. They are LOVING every one that comes in and makes their nestegg worth me. Me I could not stand the quality of life anymore here, no matter how much the paper wealth grew. OH yeah, the house was bought in 82 for 132k. Maybe 600k now.

[mhays25]

The "in Beacon Hill" makes me think you didn't live here long?