Set at the corner of northern America, with rain and clouds more than half the year, Seattle has managed over the decades to produce what the rest of America wants: first lumber and ships, then airplanes, then software, now e-commerce and trade with China.
Over the last ten years, growth has been strongest in Seattle itself, driven by new jobs the technology industry that now rivals Boeing in economic size. It has been contented that Seattle is the new ‘Silicon Valley’, and adages such as ‘Silicon Valley North’ have been used to describe the expansion in tech sector.
Home prices recovered quickly after the Great Recession and increased by double digits in Seattle in the past year, and prices are expected to increase 30% in Seattle and Tacoma over the next three years. Additionally, experts expect 35,000 new homes in King County and 35,000 new apartments, 10,000 of each in Snohomish County and Tacoma; and 4,000 of each in Bremerton and Olympia.