How will Seattle real estate market react to the news of new Amazon campus elsewhere?
Thoughts?
I don't view this so much as "Amazon's growth rate in Seattle will half" as "Amazon's growth rate in the US will double", exact numbers differing
This. Amazon has soooo much physical real estate that it's crazy
No impact
Probably very little, it's not like Amazon will stop hiring and growing in Seattle.
There's a lot of new supply in the pipeline that was expecting Amazon to grow in Seattle. What will happen: Newish places will go up in value but not by as much as everyone expected. People with money will move into these new and newish places. Older places that are still nice will remain fairly flat. More run down places that used to get flipped will fall in value and the flippers get burned. In other words no crash but some adjustments.
External parties are still buying homes cash. We are still the crane capital of US.
Those cranes are working on plans that were all kicked off before the hq2 announcement. I bet new development after that comes to a halt while developers wait and see what the impact of this is.
Whether it is because of this news or just market timing or whatever but home prices have started to decline. Many many homes are dropping their prices because of not getting sold in the initial 15 days like earlier.
Why would it even bother to react? There's no shortage of foreign home buyers