Median rents are falling for apartments inside the city of Seattle. And it’s not a new phenomenon growing out of fears of dense places and riding in elevators. The trend was underway before the pandemic hit, and shows up in other high priced markets.
Why the disconnect between GDP (falling) and personal income (rising)? Simple. Households are not spending all the personal income they receive. GDP is based on transactions, and there are fewer of them taking place, as consumers sit on their wallets
The homebuilding industry could be forgiven for taking a breather as the uncertainties of coronavirus play out. Instead, builders seem to be getting back in the game.
Almost as much money was spent in the first half of 2020 as in the first half of 2019. But it all depends on what you are trying to sell.
The U.S.-Canada border will likely remain closed at least through the summer and perhaps well beyond. Over 80 percent of Canadians approve of the border closing, so it seem unlikely that restrictions will ease any time soon.
Prognosticators have presented us with images of what a recovery might look like. The optimistic “V.” The pessimistic “L.” The meh “U” The dreaded double-dip “W.” As some data begins to come into focus, we can make the argument for the more colorful Nike Swoosh recovery.
In King County, arrests are made in fewer than 10 percent of property crimes. And as for the stuff itself? If it was a car, you have about a 50-50 chance of getting it back. If it was something else. . . pretty low odds you will see it again.
There is a big difference across the country in the level of spending and personnel associated with fire protection and emergency services.
Here we sit within striking distance of the old normal, but not quite able to get there.
Seattle is well below the average for officer coverage among large cities, and has a officer/resident ratio just slightly above the average for all cities with over 100,000 population.
The Seattle metro area, with a June unemployment rate just below 10 percent, is doing better than most other large metro areas.
Current levels of policing are not uniform among large cities, with wide variation in per capita police spending. Seattle’s level of police spending is low for a large city.
The monthly survey of state employment and unemployment for June shows very different conditions around the country.
All three Northwest cities now showing more driving direction requests than in March.
Nationally, the cutoff for the top one percent of adjusted gross income was $516,714. At $562,000, Washington ranks seventh.
The story of growth in Kittitas County is part of a larger pattern that first emerged in the early 2000s and has reappeared: migration into parts of the state that are between one and two hours from Seattle, and that make attractive retirement and or telecommuting destinations.
The machinery of speculation is now in high gear, trying to divine what the demographic landscape will look like in the post-COVID world. But for now, we get one last look at normal.
Although regional growth has slowed a bit, it is still three times the national growth rate. Moreover, growth has been well distributed around the entire state. Only Garfield County grew more slowly than the national average.