Update On Hottest Housing Markets


#1

#2

People need to hurry up on this HQ2 decision. I want to buy something.


#3

I keep repeating it over and over again. ESJ has been neglected by some not so smart investors.


#4

Come on, I am sure people are looking there too. People are looking everywhere!!!


#5

Nope. I saw homes sitting there, some on the edges of Alum Rock, a block away from the bus.

What I’ve seen though, is that last year I posted a picture of a bunch of for sale signs in front of a complex entrance. Those condos were selling hot. It was a gated community.


#6

I have to imagine there will be a flood of employees leaving Amazon Bay area and Seattle to the new office. I wonder if it will result in a short period of high inventory in Seattle. Can’t imagine that happening to the Bay Area inventory though. I have a relative waiting for that decision too so that he can leave the Bay Area and buy a real house somewhere.


#7

I don’t think the move will drop Seattle RE prices.
Do you really think masses of people will leave?


#8

hmm…can Amazon really have 2 massive office locations fully staffed - the costs would be very high. But yes, employees who move might choose to rent out their Seattle homes.


#9

Besides avoiding to pay higher taxes, the stupidity of these tech or service companies is amazing.

They should have been opening offices in the East Bay so the traffic and the jobs would be moved or created to alleviate your pain in the rear end traffic nightmare.


#10

Are West Coast people going to want to live in Atlanta?
DC Boston?
Most won’t go

Hell most west bay people don’t even want to go to the east bay


#11

You should read the plan. Plan is ~50,000 in each location.


#12

Thanks. The plan is here


#13

So why move the people. Makes more sense just hire another 50k in the new city.


#14

That is the plan. I’m sure some will choose to move, but the plan is to double the number of HQ staff. If people move from Seattle, then they’ll have to be back filled.


#15

So why are you waiting to buy. Shouldn’t affect housing demand. Or are you open to moving to Atlanta?


#16

I’m open to moving and don’t want to have another remote rental. Austin would be my first choice. If it’s somewhere in the North East, then I’ll just stay here.


#17

What do they mean by real estate market growth forecast in percentage?


#18

For sure if the local workforce is up to Jeff’s standards…


#19

I don’t think any one city is going to provide the 50k. I’m sure some will be from the new city, but a bunch will be transplants. It’s rare I meet a recent hire that already lived in Seattle. I’m sure the next city will end up that way too.

That’s a major reason long-time locals complain about it so much. Most of the job creation is benefiting people that relocate here and not the long-time residents. The people moving here for high paying jobs are driving up the cost of living for long-time residents. It probably does suck if you’re a long-time resident and can’t get a high paying job in tech. Each year you fall further behind as everything gets more expensive.

You see the same thing in the bay area. I’d bet <20% of my co-workers at 4 different companies were born and raised in the bay area. The companies were full of transplants who made more than long-time locals and were pricing locals out of where they grew up.


#20

Even if true. The 50k people will come from all over. The effect on Seattle property values will be negligible… especially compared to the new headquarter city