> And yet the skyscrapers and office buildings are still going up. The construction boom hasn't mitigated. Seattle isn't doing a good job at chasing money away.
I don't have skin in the game here, but I noticed this statement, which I think isn't right. You need to consider that commercial construction, skyscrapers no less, take years. From conception to funding to planning to approvals to building, the lag is long.
So long, in fact that some have come up with the (controversial, not saying it's correct) "Skyscraper Index" which argues that historically, peak skyscraper height correlated with the worst economic dips in the economic cycles.
Latency is huge. No one thought up COVID, WFH or even CHAZ when they were standing around plastic models of plastic buildings.
Amazon buildings tend to go up fairly quickly, many a couple of years of planning and construction, especially since Paul Allen's Vulcan real estate (who owns most of the land and construction) laid all the plans a long time ago.
> So long, in fact that some have come up with the (controversial, not saying it's correct) "Skyscraper Index" which argues that historically, peak skyscraper height correlated with the worst economic dips in the economic cycles.
Considering that none of these buildings are very tall, we are fairly safe then.
But I think this slow down will be useful in the long run: Downtown Seattle is currently turning into office space for Amazon without much for anyone else anymore. Especially compared to downtown Portland, which is a much better place to live (more retail and services, better access MAX). The boom was really going in the wrong direction, it would be nice if it could be corrected.
I don't have skin in the game here, but I noticed this statement, which I think isn't right. You need to consider that commercial construction, skyscrapers no less, take years. From conception to funding to planning to approvals to building, the lag is long.
So long, in fact that some have come up with the (controversial, not saying it's correct) "Skyscraper Index" which argues that historically, peak skyscraper height correlated with the worst economic dips in the economic cycles.
Latency is huge. No one thought up COVID, WFH or even CHAZ when they were standing around plastic models of plastic buildings.