NYC and LA Are Bad, But Seattle Is Actually Worse

[Ptarmigan]

NYC and LA Are Bad, But Seattle Is Actually Worse
https://economiccollapse.report/nyc-and-la-are-bad-but-seattle-is-actually-worse/

Seattle is becoming a case study in what happens when a city decides that wealth is something to be punished rather than cultivated. The for-sale signs are multiplying. Office towers sit half-empty. Iconic homegrown employers are quietly relocating jobs to states that still treat employers as something other than the enemy. And the political class running the city seems to think the cure for an exodus is more of whatever caused it.

The Northwest Multiple Listing Service reported active Washington listings surged 29.3 percent year over year in March, climbing to more than 15,000 homes, while closed sales rose just 0.2 percent. Median prices slipped 1.5 percent to $640,000, and the upper end of the market is bleeding far worse. Snohomish County inventory jumped 51.8 percent. San Juan County, where the median sale price hovers above $1 million, is now stacked with listings the wealthy buyers who used to absorb them are no longer interested in buying.

The much-publicized outflow of businesses and residents from Los Angeles and New York City is high, but Seattle’s numbers are worse. That gap between supply and demand is not a temporary blip caused by mortgage rates. It is a structural problem with a political signature, and the politicians responsible are still bragging about their handiwork.

It is clearly self-inflicted. Seattle, Los Angeles, and New York City are trying to out socialist each other.

[SVPete]

Seattle has shown what happens when cities attack companies that are key parts of their economic base. NYC, the Land of LA, and other uber-Progs cities have responded, .

[FlaGator]

Seattle and Portland are in fast decay. There has been some suggestion that this is intentional.