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Your personal experience does not reflect what is going on for the city as a whole. Seattle rents are dropping significantly and there has been a ton of publici
by harryh 8y ago
Your personal experience does not reflect what is going on for the city as a whole. Seattle rents are dropping significantly and there has been a ton of publicity about it. This article from close to a year ago is representative:
https://www.seattletimes.com/business/real-estate/seattle-area-rents-drop-significantly-for-first-time-this-decade-as-new-apartments-sit-empty/ https://www.seattletimes.com/business/real-estate/seattle-ar...
Here is a very recent article:
https://www.seattletimes.com/business/real-estate/amid-building-boom-1-in-10-seattle-apartments-are-empty-and-rents-are-dropping/ https://www.seattletimes.com/business/real-estate/amid-build...
- vkou 8y agoIf rents are dropping, and the economy is booming, why is the homeless population skyrocketing? I may not be representative, but the average rent dropping doesn't mean anything to someone renting a bottom 10%-cost unit. Average rent may very well be dropping - but the average renter is not someone who lives right on the margin of having a home, and sleeping on a park bench.
- harryh 8y agoYou're right about the rent on the low end. These things take time. Seattle, like many other cities, under built due to poor zoning policies for years and years. This deficit doesn't get fixed overnight (or in a year). It'll happen though if current building trends continue.