{"id":35,"date":"2005-08-30T10:56:00","date_gmt":"2005-08-30T17:56:00","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=35"},"modified":"2005-08-30T10:56:00","modified_gmt":"2005-08-30T17:56:00","slug":"is-seattles-economy-a-bubble-buffer","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2005\/08\/30\/is-seattles-economy-a-bubble-buffer\/","title":{"rendered":"Is Seattle’s Economy A Bubble Buffer?"},"content":{"rendered":"

The Puget Sound has built a reputation as a high-tech industry destination, with top tech companies such as Microsoft and Amazon.com calling the area home. Thanks in large part to companies like these; we have a healthy, growing economy. But as those who lived through Boeing layoffs in the 1970’s know well<\/a>, nothing is permanent.<\/p>\n

<\/a>A new report says Seattle-area biotechnology companies could save up to $1.2 million in yearly operating costs — that is, if they move.<\/p>\n

Places such as Vancouver, B.C.; Raleigh-Durham, N.C.; Sioux Falls, S.D.; and Denver have lower yearly biotechnology costs compared with the Seattle area, which ranked as the 18th most expensive in the country.<\/p><\/blockquote>\n

Interestingly, this both directly affects and is directly affected by<\/i> the real estate market in our area. One reason many people like to give that the Puget Sound is somehow magically safe from price corrections is our growing economy. If Seattle becomes too expensive a place to do business, businesses could find it tempting pack up and move out. And that can’t be anything but bad for home values. Also, if our “growing economy” is helping real estate continue its crazy upward march, and expensive real estate means high rents for office space, doesn’t one of those have to give eventually?<\/p>\n

Having high-tech depart our area is definitely not a situation I would like to see happen, since I happen to work in the industry. But if our state, counties, and cities continue down the path we’re on right now, I definitely see it as something that could<\/i> happen.<\/p>\n

(Brad Wong, Seattle P-I<\/a>, 08.30.2005<\/i>)<\/p>\n

\n
Seattle Bubble Tip Jar<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Puget Sound has built a reputation as a high-tech industry destination, with top tech companies such as Microsoft and Amazon.com calling the area home. Thanks in large part to companies like these; we have a healthy, growing economy. 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