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Thread: Seattle is dying
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10-28-2020, 10:31 AM #776Registered User
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Maybe you have to drink the coolaid since you're in the industry but the fear of losing high amount of commercial tenancy is very real for downtown Seattle. If Amazon/Microsoft/Google says 10% of it's downtown work force can be WFH after the pandemic it'll have a huge effect on Seattle commercial real estate. Also couple the fact that most Boeing new manufacturing sited will go to non union states in the future is not a good thing for Seattle metro.
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10-28-2020, 10:37 AM #777
I wouldn't say this is a given. With the 787 leaving the Everett site next year and 747 production ending in the next couple years, there's going to be lots of space available in the world's largest building. Seems like that makes for a very compelling case to move existing production (737?) or any future programs to utilize all that space. Boeing has been reducing their Renton footprint for a long time so it wouldn't surprise me if they decided to shutdown the Renton site and move 737 production to Everett.
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10-28-2020, 11:10 AM #778Registered User
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10-28-2020, 11:14 AM #779
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10-28-2020, 11:35 AM #780
I don’t deny that commercial real estate will be affected world wide. Never said different. I do contend that Seattle will be back in balance in time and big Corp is not as knee jerk. The whole “who’s going to turn the lights of for Seattle” narrative is very present in all local comment sections of anything remotely topical. You go and look who these commentators are and they’re from 2,000 miles away trying to tell us how Seattle’s shit and who’d live there. I’m speaking to that. So false.
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10-28-2020, 11:36 AM #781Registered User
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I can't say I hung out much in the 70s, other than in my playpen, but yeah, there was a lot to love in the 80s and 90s. That's part of the cycle, right? Everyone moves to the suburbs (or Missoula), the core succumbs to urban blight, then the creatives and ethnic restaurants move in, then art galleries, finally the yuppies come back. The last pass through the cycle took Portland like 40 years, so my decision making has to take my age and expected lifespan into account.
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10-28-2020, 09:43 PM #782Registered User
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Rents are down bigly, but same story in most expensive markets.
https://www.seattlepi.com/realestate...vid-210364.php
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10-29-2020, 12:15 PM #783Registered User
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10-29-2020, 12:18 PM #784
Holy shit don’t open that can of worms. Hudge range of theories, all shown to ‘correlate’ to some degree.
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10-30-2020, 11:24 AM #785
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10-30-2020, 01:21 PM #786
We are about to start? Please; we are already there. Just as soon as this boom over-builds on inventory and rental rates drop, then things will really slide. Much of the blight due to the homeless has been here for years.
#oldPortland #membaberries
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10-30-2020, 01:45 PM #787A few people feel the rain. Most people just get wet.
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10-30-2020, 01:47 PM #788
Seems the reality of the mythical Seattle exodus is somewhat mixed. Fewer people want to live in an apartment in Seattle during a pandemic (shocker) and there is more interest in small towns and suburbs - although many of those places were already growing before COVID. I do know of one family that moved - but it was from Redmond to Gig Harbor so suburb to smaller town I guess.
https://www.seattlemet.com/home-and-...l-estate-homes
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10-30-2020, 01:53 PM #789
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10-30-2020, 02:09 PM #790
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10-30-2020, 02:22 PM #791
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10-30-2020, 02:30 PM #792Good-lookin' wool
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10-30-2020, 02:37 PM #793
Nice. That's kinda crazy that it's reasonable compared to West Seattle.
You know about the vaccination rates there, right?
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10-30-2020, 02:39 PM #794
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10-30-2020, 02:45 PM #795
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10-30-2020, 02:48 PM #796
Today I talked to an acquaintance who’s son, a Seattle PD detective was basically demoted put back in a squad car because (unsurprisingly) all the entry level cops are quitting. So he too quit the force and moved to Houston for a PI gig.
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10-30-2020, 02:59 PM #797Good-lookin' wool
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I heard a few things. It's a weird mix of folks out there. Not too many trumpers, but some weird pockets of hippy commandos and anti-vaxxers. There are more BLM signs on the island than black people also.
Poo river was the prior place, but this one had its own sewer issues. I'm keeping the West Seattle house anyway. Going to really test out the theories on the rental market in West Seattle soon.
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10-30-2020, 02:59 PM #798
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10-30-2020, 03:35 PM #799Registered User
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Yup, we're on the same page. Shocked to see that Bernie just endorsed Chloe and Iannarone, makes me wonder if he did his due diligence.
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10-30-2020, 03:36 PM #800Good-lookin' wool
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