Will Seattle Keep Up Its Hot Streak?
As Seattle continues to experience unprecedented economic and population growth, the question on many minds is can the city maintain its hot streak? According to Forbes, it can and will, as they report they're "betting on Seattle to maintain growth for the foreseeable future." The reasons include investment and development, high demand, a strong economy, and more.
1. Population Growth - From 2015 to 2016, Seattle added an average of 57 new residents per day, a factor that has contributed to a competitive real estate market around the city.
2. Employment - The tech market accounts for roughly a quarter of a million jobs in the Seattle area, not to mention the many startups that are also bringing lucrative jobs. In addition, Forbes says the "professional services, retail, restaurants and hospitality" industries are projected to expand. This list is regarding the largest tech employers in the Puget Sound Region.
3. Foreign Interest - Employees from around the country and around the world are flocking to employment opportunities, particularly in Europe and India where Microsoft already has a strong presence.
4. Vibrant Culture - Regarded in years past for its grunge music scene, the city has "an increasingly broad palette that includes theater, classical music, comedy, dance and visual arts, among others."
5. Investment - Forbes says "Seattle shows a strong economic foundation as well as some of the secondary markets that demonstrate a thriving local economy and, thus, a robust real estate market." Though prices are high, they say its a worthy investment likely to "pay dividends" in the future.