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Amazon HQ2 Is Upending Northern Virginia’s Already Unstable Housing Market

By July 11, 2019 One Comment

One Comment

  • Dthdlr says:

    Well geez, the body of the article contradicts the click bait headline that NYT wrote:

    > Christian Dorsey, the chairman of the Arlington County Board, was careful to note that he did not believe Amazon was directly responsible for the spike in home prices and cautioned that rent increases were typical for the area.

    And then they mislead again…

    > Amazon first began in Seattle in 1994, and since then, highly paid workers moving into the region to work at the company have driven up home and rental costs in the area.

    Amazon isn’t the only company that moved in/grew. Facebook, Microsoft, Oracle, Starbucks etc are all there and all grew.
    And the city didn’t allow the needed increase in housing/apartment units for a booming growth contributing to the rising costs, simple supply/demand. More recently as apartment buildings have come online rent growth is stopping or reversing as now there are more units than demand.

    > Homelessness rates have skyrocketed.

    Correlation is NOT causation. Yes, I’m sure some of it is due to the increase in higher paying jobs and the supply/demand issue above but far more is due to them allowing rampant drug use, allowing even encouraging the homeless camps, providing no strings services etc. Homeless people are MOVING to Seattle. This is not caused by Amazon (or the other companies).

    All of that said, yes, costs are going to increase over time. They always do. And had it been some other employer or group of employers we would have seen the increases.

    If the people feel that they won’t be able to keep up they should be looking at relocating now.

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