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KT2000

(20,568 posts)

12. Seattle is in the apartment phase

Fri Oct 15, 2021, 04:41 PM

Oct 2021

A friend who lives in an older section of Seattle has noticed the value of her home has decreased on property tax assessments and the value of land is increasing. I think this might be the gift to developers who will tear down the house.

Where I live on the Olympic Peninsula in Washington the cash buyers get the houses and the working people are getting manufactured home parks. They will not build much equity in the home and the land is leased. The latest is that these developers may sell to investment firms who can raise rents, reduce amenities, and possibly close the whole

As Chris Hedges has said - capitalism is the commodification of everything.

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13 replies

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Highlight:

Investment Companies Pricing Out Homebuyers [View all] Yo_Mama_Been_Loggin Oct 2021 OP

The King of Jordan has been busy with his shell companies buying property. NurseJackie Oct 2021 #1

Love your graphic DENVERPOPS Oct 2021 #8

US property is a great investment right now for investors the world over Hugh_Lebowski Oct 2021 #2

British Columbia addressed this KT2000 Oct 2021 #3

You beat me to it, and you provided better info. alwaysinasnit Oct 2021 #5

Thank you KT DENVERPOPS Oct 2021 #11

Seattle is in the apartment phase KT2000 Oct 2021 #12

That same thing DENVERPOPS Oct 2021 #13

Having an HOA should stop some of this. jimfields33 Oct 2021 #7

Maybe we should consider a non-resident speculation tax like Canada imposes on purchases alwaysinasnit Oct 2021 #4

Don't forget 2008. multigraincracker Oct 2021 #6

It's a big problem here in GA. It's mind boggling how things tulipsandroses Oct 2021 #9

Foreign nationals and companies are aggressively buying up farmland around here. Midnight Writer Oct 2021 #10