{"id":3329,"date":"2018-01-26T09:30:07","date_gmt":"2018-01-26T13:30:07","guid":{"rendered":"http:\/\/dankrell.com\/blog\/?p=3329"},"modified":"2020-03-04T07:52:57","modified_gmt":"2020-03-04T12:52:57","slug":"prime-housing-move-amazon","status":"publish","type":"post","link":"https:\/\/dankrell.com\/blog\/2018\/01\/26\/prime-housing-move-amazon\/","title":{"rendered":"Prime housing move by Amazon"},"content":{"rendered":"\n<p>Amazon is about to make a decision on their \u201cHQ2.\u201d&nbsp; The highly anticipate decision can be a prime housing move not just for the chosen city, but the region.&nbsp; As you now know, Montgomery County is on the short list.&nbsp; Some even have it pegged to be in the top five.&nbsp; Although many local residents are excited at the prospect of increasing home values, many others are anxious how a Montgomery County Amazon HQ2 will affect their quality of life.<\/p>\n\n\n\n<p>If Amazon chooses Montgomery County, the county will likely see a similar impact that Seattle experienced.&nbsp; However, rather than be purely speculative, let\u2019s look how Amazon has shaped Seattle.&nbsp; Stephen Cohen offers interesting statistics looking at how Seattle has changed after Amazon (<a href=\"http:\/\/www.seattlepi.com\/business\/tech\/article\/Seattle-before-and-after-Amazon-12181936.php\" target=\"_blank\" rel=\"noopener noreferrer\"><em>How Seattle Changed After Amazon Came to Town<\/em><\/a>; seattlepi.com; September 22, 2017).&nbsp; Cohen points out that Amazon has been based in Seattle since the mid 1990\u2019s, and that the major impact on the town happened when the company moved to the <a href=\"https:\/\/web.archive.org\/web\/20200214023702\/https:\/\/www.seattletimes.com\/seattle-news\/data\/amazons-south-lake-union-turf-do-you-recognize-this-place\/\" target=\"_blank\" rel=\"noopener noreferrer\">South Lake Union<\/a> campus (SLU) in 2010. &nbsp;Since the move, <a href=\"https:\/\/www.recode.net\/2017\/5\/15\/15610786\/amazon-jeff-bezos-public-company-profit-revenue-explained-five-charts\" target=\"_blank\" rel=\"noopener noreferrer\">Amazon\u2019s stock price skyrocketed<\/a> and its market cap exceeded (and has since doubled) that of Walmart.<\/p>\n\n\n\n<p><a href=\"http:\/\/www.seattlepi.com\/business\/tech\/article\/Seattle-before-and-after-Amazon-12181936.php\" target=\"_blank\" rel=\"noopener noreferrer\">Cohen\u2019s data<\/a> goes beyond the pros and cons of having the business giant in the community and compares statistics that span from 2010 to 2017.&nbsp; During that time, Seattle\u2019s population grew 17.3 percent.&nbsp; However, it remained as the 18<sup>th<\/sup> most populous US city.&nbsp; Although Seattle followed the national trend of becoming more diverse, its African American population slightly decreased (which was counter the national trend).&nbsp; Cohen describes Seattle\u2019s population as \u201cskews male,\u201d probably because Amazon\u2019s \u201cworkforce is 63 percent male.\u201d<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignright is-resized\"><a href=\"http:\/\/www.businessinsider.com\/housing-bubble-fed-charts-2017-5\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/static4.businessinsider.com\/image\/592f2150b74af4481b8b55f8-600\/us-housing-case-shiller-seattle-2017-05-30.png?resize=150%2C145\" alt=\"housing\" width=\"150\" height=\"145\"\/><\/a><figcaption>Seattle Case-Shiller home price index (graph from businessinsider.com)<\/figcaption><\/figure><\/div>\n\n\n\n<p>But the home values\u2026<a href=\"https:\/\/web.archive.org\/web\/20190509075432\/https:\/\/us.spindices.com\/indices\/real-estate\/sp-corelogic-case-shiller-seattle-home-price-nsa-index\" target=\"_blank\" rel=\"noopener noreferrer\">Seattle has had one of the hottest <\/a>and prime housing markets in the country. Seattle\u2019s average home price increases are almost double the national average.&nbsp; Finding housing in Seattle is very difficult, as the town\u2019s vacancy rate significantly decreased to about half that of the national average.&nbsp; The city\u2019s median gross rent is 47.6 percent higher than the national average.<\/p>\n\n\n\n<p>Other interesting facts from Cohen&#8217;s data\u2026one-person households decreased from about 15 percent to slightly more than 10 percent.&nbsp; There was a 25.2 percent increase in commuters.&nbsp; And, the city\u2019s mean household income increased 41.3 percent, which is more than double the national average.<\/p>\n\n\n\n<p>Prime housing is not for everyone.&nbsp; Cohen cites the sharply increased cost of housing and high cost of living for negatively affected the poor, as well as the middle class.&nbsp; And although Seattle is the 18<sup>th<\/sup> largest US city, it has the third largest homeless population (according to a December 7, 2017 Seattle Times expose \u201c<em>King County homeless population third-largest in U.S.\u201d<\/em>).<\/p>\n\n\n\n<p>But, Lisa Stiffler reported that Amazon\u2019s philanthropic corporate culture has noticeably changed (<a href=\"https:\/\/www.geekwire.com\/2016\/corporate-scrooge-no-amazons-philanthropy-reshapes-reputation-point\/\" target=\"_blank\" rel=\"noopener noreferrer\"><em>What gives? Tech giant Amazon finally boosts its philanthropic rep in its hometown<\/em><\/a>; geekwire.com; December 14, 2016).&nbsp; She notes that it is evident that employees are volunteering and getting involved with such activities as the Amazon \u201c<a href=\"https:\/\/www.geekwire.com\/2016\/amazons-first-nonprofit-expo-encourages-employees-give-back-volunteering\/\" target=\"_blank\" rel=\"noopener noreferrer\">Non-Profit Expo<\/a>.\u201d<\/p>\n\n\n\n<p>Seattle\u2019s SLU is described by Stephen Cohen as an \u201cInnovation District,\u201d which is a <a href=\"https:\/\/www.brookings.edu\/essay\/rise-of-innovation-districts\/\" target=\"_blank\" rel=\"noopener noreferrer\">Brookings Institute<\/a> term for a &#8220;<em>geographic areas where leading-edge anchor institutions and companies cluster and connect with start-ups, business incubators, and accelerators<\/em>.&#8221;&nbsp; SLU is similar to Montgomery County\u2019s Technology Corridor.&nbsp; An Amazon move to MoCo\u2019s Tech Corridor would likely dovetail with a <a href=\"https:\/\/www.washingtonpost.com\/news\/dr-gridlock\/wp\/2017\/04\/19\/maryland-has-a-plan-to-reduce-congestion-improve-safety-on-i-270\/\" target=\"_blank\" rel=\"noopener noreferrer\">$100 million plan to improve I-270<\/a> (the infrastructure plan was reported by the Washington Post last April).&nbsp; Such infrastructure improvements would open up Maryland\u2019s western real estate market, which would ease some of the upward pressure to MoCo\u2019s already tight prime housing market and already increasing home prices.<\/p>\n\n\n\n<p> By Dan Krell<br \/> Copyright\u00a9 2018<\/p>\n\n\n\n<p>If you like this post, do not copy; instead please:<br \/><a href=\"https:\/\/wp.me\/p1VZLf-RH\">link to the article<\/a>,<br \/><a href=\"http:\/\/facebook.com\/dankrellrealtor\/\">like it on facebook<\/a><br \/>or <a href=\"https:\/\/twitter.com\/dankrell\">re-tweet<\/a>.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><a href=\"http:\/\/www.copyscape.com\/plagiarism-detector\/\"><img decoding=\"async\" src=\"https:\/\/i2.wp.com\/banners.copyscape.com\/images\/cs-bk-3d-234x16.gif?resize=234%2C16\" alt=\"Protected by Copyscape Web Plagiarism Detector\"\/><\/a><\/figure>\n\n\n\n<p><br \/><a href=\"http:\/\/dankrell.com\/blog\/disclaimer\/\" target=\"_blank\" rel=\"noopener noreferrer\">Disclaimer<\/a>. This article is not intended to provide nor should it be relied upon for legal and financial advice. Readers should not rely solely on the information contained herein, as it does not purport to be comprehensive or render specific advice. Readers should consult with an attorney regarding local real estate laws and customs as they vary by state and jurisdiction. Using this article without permission is a violation of copyright laws.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Amazon is about to make a decision on their \u201cHQ2.\u201d&nbsp; The highly anticipate decision can be a prime housing move not just for the chosen city, but the region.&nbsp; As you now know, Montgomery County is on the short list.&nbsp; Some even have it pegged to be in the top five.&nbsp; Although many local residents &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/dankrell.com\/blog\/2018\/01\/26\/prime-housing-move-amazon\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Prime housing move by Amazon&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[234,469,140,233,288,64,13],"tags":[893,936,871,706,892,466,827,797],"class_list":["post-3329","post","type-post","status-publish","format-standard","hentry","category-economy","category-home-prices","category-home-values","category-housing","category-housing-market","category-montgomery-county-md","category-real-estate","tag-economy","tag-home-prices","tag-home-values","tag-house-values","tag-housing","tag-housing-market-2","tag-montgomery-county-md","tag-real-estate"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p1VZLf-RH","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts\/3329","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/comments?post=3329"}],"version-history":[{"count":16,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts\/3329\/revisions"}],"predecessor-version":[{"id":5986,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts\/3329\/revisions\/5986"}],"wp:attachment":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/media?parent=3329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/categories?post=3329"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/tags?post=3329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}