Seattle's Tech Boom Is Driving Up Housing Prices

In a recent article for Bloomberg BusinessHui-Yong Yu outlines the way in which “Seattle’s Tech Boom Is Driving Up Housing Prices” with the help of Lili Shang, a top producing broker and Founding Member of the Realogics Sotheby’s International Realty‘s (RSIR) Asia Desk. Providing her expert commentary, Shang shares her predictions on a global platform, telling  Bloomberg  that “we will be like San Francisco in five years” because “it’s a new era” in the Puget Sound area.

The feature also outlined Shang’s stellar representation of a couple who purchased a Seattle mansion for $3.2 million back in September from Jamie Moyer, former Pitcher for the Seattle Mariners. The deal, as Shang alludes to in the article, signals a growing trend in Pacific Northwest real estate because just after buying the home, her clients rented it to a group of employees from Amazon.com Inc. Why make the purchase then? According to Shang, “many of her Chinese clients are making a long-term bet on Seattle. ‘They’re waiting for their kids to grow up, to get ready for college or high school.'” In other words, they’re making investment purchases that will provide far more than merely financial returns in their futures.