Multifamily Market Buzz: Seattle

Here is market enthusiasm that is supported by solid anecdotal evidence. This approach is much preferred in my opinion.

The April 20th edition of the Seattle P-I.
Rent at an all-time high -- if you can find a place

Key quotes:
A new report affirms that apartments are about as hard to find now as they have been any time in the past three decades and rents are on the rise.

"As far as tenant demand, we haven't seen that huge increase that we thought we would have, given the slowdown in the sales market," he (Dean Foggitt, a broker at Brink Property Management) said. "What we've seen more is people staying put, less tenants giving notice."

Traffic and high gas prices have driven up the desirability of areas closer to people's jobs, he said. "As you get further out, the responses drop dramatically."