4 ms·
Seattle Has Reached the Second and Terminal Stage of Gentrification
- carapace 7y agoArticle seems to end just as it's getting interesting. When there's a tension between city as investment vehicle and city as a place for living what's the tipping point? And what's the next stable equilibrium?
- zozbot234 7y agoA city will not stay a pure "investment vehicle" forever - the RE-values bubble has to deflate at some point. But it can take some time because the market is so illiquid, and a downwards correction is especially likely to be erratic. Then the gentrification/speculation process starts all over again and we're back to square one. Want to improve things? Tax away urban rents by raising property taxes (the opposite approach to California Prop 13) and the relevant market will become far more liquid, and less prone to excessive real estate costs.
- downerending 7y agoNow that the BA and Seattle are gone, where's everyone going?
- Throwayaw22 7y agoDenver and Portland
- JohnFen 7y agoI don't think that Portland is very far behind Seattle in this problem, though.
- look_lookatme 7y agoDenver and, as far as I can tell, people keep moving to Austin.