Category: BizJournals (4)

Marc Stiles reported in a recent Puget Sound Business Journal  feature that “More than a fifth of renters in Seattle could afford to buy houses,” a fact that is contributing to the seemingly ever-rising cost to rent in Seattle.

Seattle’s rent is currently growing faster than any other city in the U.S., this according to the Seattle Times as June 2015 vs. June 2016 rent comparisons revealed a staggering 9.7% increase. What’s more, “rents are soaring so fast that June’s 1.1 percent monthly price gain in the Seattle area beat out the growth that Chicago and Washington, D.C., have seen in an entire year.

As Stiles says, “there are various reasons why apartment rents are soaring in the Puget Sound region, and an overlooked one is that Seattle has a relatively high number of renters who could buy but are not necessarily looking to do so.” This statistic, as the article outlines, puts “Seattle fifth on a new Zillow list of markets with the highest share of renters who are qualified to buy.” And when these potential buyers choose to rent, it “increases competition for apartments,” which drives rents up, “hurting lower-income households the most.”

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Today our Mercerfully Modern Estate is featured as the Home of the Day on the Puget Sound Business Journal! This exquisite modern home is poised on 110’ of Lake Washington shoreline and evokes its natural environment. Perfect execution of impeccable custom details & the finest hand selected natural materials. Walls of windows, luxe waterside master suite, state of the art kitchen & stunning curved glass staircase with custom metal handrail to anchor the stunning hand-wired walnut floors. Nano-doors unfold to entertaining terraces, sandy beach, deep water moorage, boat & jet ski lift. Fully gated for boundless privacy.

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