Dealers in Fife recorded over a half a billion dollars in vehicle sales in 2019, and the city collected over $1,000 per household in taxes on those sales. In contrast, the adjacent city of Edgewood collected just $11 per household in car sales taxes.
Manufacturing Rebounds in a Hurry
In January and February of this year, manufacturing indices were just about where they were in early 2020, when adjusted for inflation.
2020 State GDP–We’re Number Two!
While not a single state had real GDP growth in 2020, Washington experienced the second smallest decline. And in nominal terms, without adjusting for inflation, the state’s economy actually grew slightly. Only the Beehive State did better.
The High Price of Low Rent
We are starting to see an equalization of rents across the region, with rents falling in expensive areas and rising in less expensive areas. This equalization will be brutal for the lowest income renters.
Housing Booming All Over—But Not In Washington
All of the subregions of the country, including the slow-growing Northeast, saw an increase in single family permits in 2020 over 2019. But, somehow Washington State missed the memo.