I have attached below the entire Bloomberg News article from July 7, 2015. For all current Seattle residents, the residential real estate boom and personal interviews in the article do not come as a surprise. The current boom is particularly important for families moving to the area to understand, as it impacts your ability to secure housing within desired public school districts and commute distance to work.
It is important to make housing and education decisions jointly, and I recommend double-checking the school boundaries before making any commitments. A link is available on most school district websites which will confirm the neighborhood school for your new home address.
Two key points from the article:
"Seattle's inventory of residential properties for sale is the lowest on record, according to Redfin Corp., whose data dates to July 2007-2015. At the current sales pace, it would take less than two months for all homes on the market to find buyers. We're probably going to have an inventory shortage for two to three years,” said Glenn Kelman, chief executive officer of Seattle-based Redfin.".
”The area, already home to Amazon and Microsoft, has attracted Facebook., which earlier this year agreed to lease most of a building in the city's South Lake Union neighborhood. Google has a satellite campus in Kirkland and Alibaba Group Holding is in talks to rent additional office space east of Seattle. Other homegrown technology companies include Zillow Group, Expedia and Zulily."