
Seattle Has Reached the Second and Terminal Stage of Gentrification - johanam
https://www.thestranger.com/slog/2020/01/15/42571615/the-rash-of-restaurant-closures-shows-seattle-has-reached-the-second-and-terminal-stage-of-gentrification
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carapace
Article seems to end just as it's getting interesting.

When there's a tension between city as investment vehicle and city as a place
for living what's the tipping point? And what's the next stable equilibrium?

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zozbot234
A city will not stay a pure "investment vehicle" forever - the RE-values
bubble has to deflate at some point. But it can take some time because the
market is so illiquid, and a downwards correction is especially likely to be
erratic. Then the gentrification/speculation process starts all over again and
we're back to square one. Want to improve things? Tax away urban rents by
raising property taxes (the opposite approach to California Prop 13) and the
relevant market will become far more liquid, and less prone to excessive real
estate costs.

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downerending
Now that the BA and Seattle are gone, where's everyone going?

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Throwayaw22
Denver and Portland

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JohnFen
I don't think that Portland is very far behind Seattle in this problem,
though.

