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Seattle has completely changed from a decade or two ago. Keep in mind it used to ebb and flow on Boeing's order book, they were Seattle. Now not only has Boeing had an incredible run over the last decade but technology has also really taken off. Seattle's climate is nice and (IMO) better than most of the US save for southern CA. They have fairly low property taxes and zero state income taxes (this is huge for higher wage earners).
There are still relatively inexpensive places to live in the PNW. Vancouver WA is just across the river from Portland and enjoys good schools and lower housing costs, although they also have increased over the last few years.
Most bigger southern cities have seen huge price upticks, while those in the NE and Midwest have been fairly stagnant. I was recently looking up in NJ for fun and just have to wonder how in the world the local governments spend all their tax renenue. Property taxes that average $6k-$10k per house, plus income tax, where does it all go? These are for average homes up there.
Look at which political party controls the high tax areas. Not trying to be political but look at the facts.
Location: Chapel Hill, NC, formerly NoVA and Phila
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Originally Posted by wheelsup
Most bigger southern cities have seen huge price upticks, while those in the NE and Midwest have been fairly stagnant. I was recently looking up in NJ for fun and just have to wonder how in the world the local governments spend all their tax renenue. Property taxes that average $6k-$10k per house, plus income tax, where does it all go? These are for average homes up there.
Public workers are paid very well in states like New Jersey and New York. Police officers/fire fighters/teachers have good government pensions. There are a lot of social services available. New Jersey is one of the best states for special services in the public schools. And overall they spend a lot for their schools.
Interesting. First, it was Denver and Austin, then Atlanta and Boston. Then the DC area was the top speculation. Now Raleigh.
Miami might be next!
Honestly speaking - I really don't see how it can't be DC. The man owns the largest home here and spending millions upon millions to renovate it. He owns the news paper, he is engaging local economic steering clubs, and the Amazon Web Service division is already located here, of which they've made no secret of wanting to expand that division dramatically. They're buying land to build their own data centers (instead of leasing, like most do). Add in the fact that over 90% of all internet traffic flows through Loudoun County, which has become one of the largest collections of cutting edge data centers in the world (and Amazon being an internet company), I really can't see why Amazon would go anywhere else. Plus the political clout Bezo's is going to need in the near future to stay out of trouble. His home happens to be in the heart of politician alley - with neighbors being Trump, Clinton, Obama, and several other influential power brokers. He wants to move Amazon into the financial services sector, and the pharmaceutical arena as well, both sectors that are heavily regulated and governed by political oversight. Add in his ability to have a direct and meaningful impact on the economic health of "inside the beltway", and there isn't a two-term politician out there that won't think twice before attacking the man and Amazon for anti-trust behavior (or whatever else they can attack him over due to how Amazon is changing a huge norm of our culture - shopping).
Rumor has it now that some realtors out in Loudoun County are seeing a large up-tick in home shoppers like never before - and they're mostly from Amazon and doing it very quietly.
My hope is RDU gets Apple, and DC gets Amazon. My fear is one gets both, which I don't think either could easily handle. As my wife and I both agree - if we get Amazon (we live in Loudoun County), the only number that'll change for us is our real estate taxes going up. It's not like we're all going to start making more money here. But we all will be paying for it. If your mindset is on your home's market value, then I would caution that excitement to those who are looking to sell their home in whatever city wins the bid within say the next 3 to 4 years. Otherwise, the new home builders will have likely already flooded the area with new homes to accommodate the demand. And both of our areas have already been under heavy residential building for the past 5 years! Holly Springs? I don't even recognize it anymore! When we left Apex in early 2009 - 540 ended at the airport.
Rumor has it now that some realtors out in Loudoun County are seeing a large up-tick in home shoppers like never before - and they're mostly from Amazon and doing it very quietly.
My hope is RDU gets Apple, and DC gets Amazon. My fear is one gets both, which I don't think either could easily handle. As my wife and I both agree - if we get Amazon (we live in Loudoun County), the only number that'll change for us is our real estate taxes going up. It's not like we're all going to start making more money here. But we all will be paying for it. If your mindset is on your home's market value, then I would caution that excitement to those who are looking to sell their home in whatever city wins the bid within say the next 3 to 4 years. Otherwise, the new home builders will have likely already flooded the area with new homes to accommodate the demand. And both of our areas have already been under heavy residential building for the past 5 years! Holly Springs? I don't even recognize it anymore! When we left Apex in early 2009 - 540 ended at the airport.
I believe that uptick may be because there is a huge datacenter being planned for that area that will employ a lot of people.
My hope is that it goes to DC if the DC area is chosen. No slight against Raleigh. My wife's family is there and I wouldn't mind if Raleigh got it either. But I think if it went to Loudoun County, that would encourage more sprawl. Sure, there is a metro line going out there, but I can imagine developers going west clear past 81 and into WV. There's no transit out there. Also, Loudoun is about as suburban as you can get and it is adjacent to the rural tier. THat's not something Amazon is looking for in a campus.
I don't like Montgomery COunty either. Again, that's a suburban location though far closer to the boundary of Washington DC than Loudoun County.
Choosing DC fits the new paradigm shift of companies moving back to central cities. The only caveat would be Alexandria which many believe is an extension of downtown DC.
Raliegh and the state of North Carolina have done a good job using the resources of the area universities to create a vibrant new age economy and workforce. I can't help but lament the fact that the DC area could have done the same thing if it weren't for the competition between MD, VA, and DC. Perhaps it was the cohesiveness of the RTP area that made it easier to win companies and jobs. If the DMV could get its act together and work together, we would be more comparable I think when it comes to areas like Boston, RTP, and Atlanta.
The DMV has to act and think as if it is one state. A win for MD, DC, or VA, should be viewed as a win for all three. This will certainly be the case if Amazon chooses the area.
My quick look at Loudoun Real Estate shows me an 840sq ft condo for only $205k (is this the right place?). Well, I can think of one reason not to put a new HQ there!
The 3 primary sites under heavy consideration in the DC region are (1) Crystal City area out front of Reagan airport (dc), (2) the CIT site that is basically out front of Dulles airport (Loudoun), and (3) the vacant White Flint Mall in N. Bethesda (MD).
There is a 4th stalking horse called Eisenhower on the VA side as well.
The MD site is the least likely due to location. Strong speculation the Reagan area is top slot, and with developers who can deliver on the requests with ease. But the Dulles location would be best for traffic containment and employee location/quality of life, as Loudoun is the western burbs and affordable by DC standards. Eisenhower would be a traffic nightmare for the beltway, and no easy access to shipping routes.
In my book, it’s Reagan or Dulles. One has more flash, the other has more practicality for business operations for decades to come (Dulles airport can handle a lot more cargo freight in/out than Reagan), and much easier and capable to handle an Amazon influence. At the Dulles site, there is no "squeezing" in Amazon, there is plenty of room. Plus, their web service outfit is nearby as is a new piece of land they just bought to build a data center. The Reagan site would be squeezing them it a bit, and the MD site is basically your suburban 1980's shopping mall that nobody wants anymore. All sites have walkable access to DC's public train network, with the Dulles site being the newest in the system (delivering next year).
If average income is going to be in the $100k-$125k range (which seems high to me, but whatever), Loudoun offers employees the ability to live pretty well for the area on that salary. Could buy a single family detached home in the 3,000k SF range on that salary, good schools, neighborhoods, etc. Plus, area is very diverse with an endless talent pool in the IT world, with several holding security clearances at different levels with the government. Many don't realize that Amazon also does government contracting, and with an emphasis on expanding their web services, the need for security clearance for some will be required to grow that business. There is no shortage of talent with those clearance levels in the Loudoun area (DC really). Heck, I've been interviewed at least 5 times by the FBI while they do their background checks on my neighbors who are either getting or renewing their clearance status.
Public workers are paid very well in states like New Jersey and New York. Police officers/fire fighters/teachers have good government pensions. There are a lot of social services available. New Jersey is one of the best states for special services in the public schools. And overall they spend a lot for their schools.
Also while states have low taxes, a lot of that is because they are deferring necessary funding or not adequately funding the services that they do have. Just look at all the teacher strikes in all the red states over the past year. The same is probably true for infrastructure as well. Eventually either your state will collapse if it goes into growth mode or you'll be forced to raise taxes.
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