No Need To Fear A Housing Market Bubble/ Here's Why Seattle Real Estate Is So ExpensivePosted by Cary W Porter on
The Seattle region is experiencing quite a unique set of circumstances — old and new — that are creating unattainable prices for many.
- Topographical: There’s not much land to go around with lakes and Puget Sound in the way. There are also growth management boundaries. This makes what land is available for housing more expensive.
- Development: Builders aren’t building enough to meet the housing demand because land is expensive. Labor costs are also up and that adds to the price.
- Mass transit: Infrastructure, or lack thereof, makes it difficult to get around. So living in a convenient location is more expensive. Time is valuable, and commutes are growing. Buyers are moving farther out from Seattle along the freeways to find housing they can…
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