A colleague sent me a great article about the Seattle housing market and how it’s unique geography and building laws have helped shelter Seattle from over-development during the real estate boom.
Here’s an excerpt…
“Two big factors will help bolster Seattle housing prices in the next few years: stringent building restrictions and basic geography.
City officials kept a tight rein on development during the boom. Much of the new housing consists of “in-fill” projects that replace existing buildings or other properties. For example, South Lake Union, a multi-use development with 2,800 residential units so far and Amazon.com’s (AMZN) new headquarters, was built on a former industrial site. “It’s a difficult market to penetrate from a land acquisition perspective,” says local builder Peter DelMissier, division president of Pageantry Homes. Not that there’s much undeveloped land to buy. An isthmus, Seattle is hugged by the Puget Sound on the west and Lake Washington on the east. “
Here’s a link to the rest of the article
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