Housing market and resale value

[uniquetraveler]

Seattle housing market should hold on the long run, due to reasons below:

1) It's becoming the epicenter of Cloud computing, AI, Gaming etc. People just focus on MSFT and Amazon, but companies like Google, Facebook, Apple, Salesforce have significant presence here outside of Bay area.

2) In addition to tech, Seattle is also big in legacy industry like Aerospace (Boeing, Blue Origin and Space X- recently expanded in Redmond). Some core manufacturing jobs may shift to south, but higher end aerospace design and engineering jobs will expand here.

3) The above 2 core sectors are supported by growing Biotech(Adaptive), retail (Starbucks, Costco) and other field like Telecommunication (T-mobile). So quite a diversified base compared to Seattle in early 70s and 80s when it was only aerospace

4) Due to being surrounded by water and mountain,it is hard to find huge swath of land for big housing development like places like Dallas, Houston in Texas

5) Seattle is one of the closest US cities to Asia, with China, Vietnam and other asian nations growing fast. There is going to be lot of investment here, the same way east coast cities like NY, Boston benefitted from Europe in the last century

6) The metro area does well in core areas of living and lifestyle such as school district, healthcare and public transportation. Add outdoor activities and easy access to tourist places such as Vancouver, Victoria and Whistler it looks even more attractive

[Prickly Pear]

Western Washington is a beautiful area, I will never see it struggling too much. Logistically powerful with the Puget Sound and access to Asia from there, in addition to established economy and infrastructure. I could only see something happening if it got a once-in-a-lifetime earthquake. Or climate change with rising sea levels manage to take up some of the sea level areas around the Puget Sound, swallowing up some of the buildings along the coast and potentially messing with the former (ports, electric/water/wastewater utilities, etc.)

Even New Orleans managed to bounce back from Katrina though. But New Orleans' bounce is not as high as it once was...

[Gaylord_Focker]

I'm seeing some 3 br condos in downtown Bellevue for under 1 million, which is just incredible. Now ,they're tiny and high HOAs, but it's gotta be nearly fool proof.