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What’s behind Seattle region’s soaring apartment rents? Could be ‘Covid catch-up.’

What’s behind Seattle region’s soaring apartment rents? Could be ‘Covid catch-up.’

“As the pandemic recedes and the moratoriums end, people may be surprised (shocked) at the “rent increases” that many areas around Seattle have experienced in the past couple of months. Several main issues exists here – one, that in many areas (especially in Seattle) rents were Decreased in many neighborhoods due to the pandemic shutdowns and violence and renter exodus…

Seattle’s latest Covid economic impact report chock-full of demoralizing data

Seattle’s latest Covid economic impact report chock-full of demoralizing data

“The impact of the pandemic continues to haunt Seattle. Huge effects on downtown businesses, both large and small. Demand for apartments has fallen dramatically, as rent rates have fallen as well. Work from home, no commute, closed restaurants/bars, higher crime, all make for less desirable living environment for high-end downtown renters…” It’s going to take some time for the economy…

Multifamily Concessions ‘Arms Race’ Heats Up As Renters Gain Power Position

Multifamily Concessions ‘Arms Race’ Heats Up As Renters Gain Power Position

“This article describes the Concessions and Rent Discounts being offered in MF properties in San Francisco, but these very similar to all that is being offered by Landlords in Seattle as well. Our Urban market has been hit hard….very few prospects coming in to rent, and concessions abound at all urban properties…!”   Some of San Francisco’s largest apartment owners are resorting…