Observations

Seattle’s Tech Industry: A Blessing Or A Curse?

Seattle state of the market recap.

Josh Nasvik
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Seattle State of the Market Recap
September 26th, 2017 / Seattle

Has Seattle’s tech industry become a blessing or curse for the local economy? At Bisnow’s September Seattle State of the Market Event, local industry experts discussed the implications of being entirely dependent on healthy economic conditions. Many credited tech giants like Amazon for spurring massive tech expansion morphing the then regional economic hub into a global city on the edge of the tech economy.

Those with a more positive outlook noted the 50,000 new high paying jobs created by tech businesses over the last two years. In the same breath, those experts stated local policies, landlords and builders should prepare for the resulting population growth trajectory, projected to possibly reach 5 million by 2040. Polaris Pacific’s Josh Nasvik spoke to Seattle’s current buyer trends stating commute, walkability and neighborhood culture were driving purchasing decisions, primarily for millennials entering the housing market and baby boomers looking to downsize.

~50,000 new high paying jobs created by tech businesses.
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