A Foreign Investment Ripple Effect to Keep an Eye On

The Vancouver effect: What foreign real estate buyers in Seattle mean for Bellingham

A recent article in the Bellingham Business Journal takes note of what foreign real estate buyers in Seattle might mean for Whatcom County. Foreign buyers have been focused on Vancouver B.C. due to investment opportunities and currency fluctuations, but the city of Vancouver is instituting a tax on those buying a home that aren’t Canadian citizens. According to real estate studies, “it’s just a matter of time before those buyers come down to the Seattle metro area, if they haven’t already.”

So, you may be wondering, how does this affect Whatcom County real estate? Well, increased foreign buyers in the Seattle area will create a ripple effect to nearby counties due to rising prices, pressure on the job market, and people looking to retire. A Bellingham Windermere real estate agent confirmed, “the number of inquires she gets from people looking to move from Seattle to Bellingham has doubled since last year.”

Read the full article for more info —> http://bbjtoday.com/wp-content/themes/thejournal/thumb.php?src=http://bbjtoday.com/wp-content/woo_custom/4886-VancouverBCW.jpg&h=398&w=600&zc=1&q=90

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