New report finds 'significant deterioration' of Seattle's apartment market (paywall article)

[Yo_Mama_Been_Loggin]

The apartment market got another bad report Monday, when the Seattle office of Apartment Insights issued the results of its latest survey of landlords.

The vacancy rate is rising, rents are dropping and more landlords are offering larger incentives to entice tenants. It adds up to a "significant deterioration" of the King and Snohomish county markets, according to Apartment Insights. The report comes out a month after another company found month-over-month rents have been falling since last summer.

After five years of eye-popping growth, Apartment Insights says the local apartment market may have peaked during the third quarter, and that the fourth quarter "appears to mark a turning point."

The report is for the fourth quarter, which is when the market traditionally softens as fewer people move. But this year's fourth quarter negatives are worse than most other years.

http://www.bizjournals.com/seattle/news/2016/12/19/deterioration-seattle-rents-apartment-development.html?ana=e_du_prem&s=article_du&ed=2016-12-19&u=ColXVN5SPzQtLHFP87ho2w07857290&t=1482195390&j=76806901

Rents are coming down or at least stabilizing. That's a problem?

[still_one]

1. I wish that would happen in the bay area. A lot of people are hurting because rents

are too high

[MADem]

2. Rents are falling in Manhattan, too.

Guess it's that shitty orange neighbor or something...?

http://www.slate.com/blogs/moneybox/2016/12/13/rents_are_falling_in_new_york_city_is_this_a_crash.html


Rents Are Falling in New York City. Is This a Crash?

[brush]

3. Could be the beginning of one. Happens everytime the repugs take over

Boeing just announced steep costs saving moves, buyouts and anticipated layoffs coming.

GM announced temporary plant closings next month.