Can you imagine a population in Seattle greater than that in San Francisco? Well, according to an article from The Daily Journal of Commerce, that imagined scenario may become a reality as early as 2040. As Nat Levy reports, “The Puget Sound Regional Council [PSRC] predicts another 1 million people will live in the central Puget Sound region by 2040” and “at least 160,000 of those new people will live in Seattle.”
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Having briefly subsided from September into October, residential prices in Seattle resumed their upward trek, with the index turning positive by 0.18% in November. The official report from Case Shiller noted that “Seattle, Las Vegas, and San Francisco reported the highest year-over-year gains among the 20 cities. In November, Seattle led the way with a 12.7% year-over-year price increase, followed by Las Vegas with a 10.6% increase, and San Francisco with a 9.1% increase.”
The popular West Coast cities of San Francisco, Los Angeles and Vancouver have long been the most direct routes to New World prosperity for Asian immigrants and their families. Now that generations of Chinese buyers have transitioned to life in North America, their experience and trend spotting is bringing to bear more practical considerations of economic fundamentals, financial and educational opportunities, and overall quality of life. So it’s no surprise that relative affordability, propensity for capital appreciation and even a recently imposed 15-percent foreign homebuyer tax in Vancouver, are boosting interest in alternative markets like Seattle—the next international gateway city on the rise.
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In a recent article published by the Seattle PI, Daniel Demay declares “Seattle among the World’s Most ‘Future-Ready’ Cities,” according to a report released by Dell. As Demay begins, “say what you will about the tech boom in Seattle – it’s good for having a future-ready economy” as it was ranked 13th among 50 cities around the world.
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