Yes, but where are they going to go. Eastside, Southend. North? Not a lot of “safer-better” alternatives. Plus affordability.
Not sure if you read the article?
Most are leaving to Maricopa County, (Phoenix area). Some are going to Spokane. I sell residential real estate, and for the most part, it's true. I've had several clients sell and leave for Wenatchee, Coeur d'Alene, and South Carolina. About a third want to bolt King County mainly for two main reasons:
1. Liberal state.
2. We are now Manhattan and San Francisco.
Over 800,000 people have moved here recently, because of the tech industry. It's impossible for a young person to rent an apartment at $20 an hour. You need to live at home, or have 2 other roommates. Therefore, there's a shortage of entry level workers, everywhere.
Also, if you need body work done on your car, you're in for a huge surprise. Unless you take your car to Yakima, Ellesnsburg, or Spokane.....it takes, (and I'm referring to almost all body shops), it takes one month to get an initial appointment, just to have a guy write you an estimate. Then, it's another 60 days to get the on their calendar to start the job. Then, it takes 3 weeks to repair the damage, (quarter panel, bumper and paint). You're in a rental car for 3 weeks.
In the old days....it was 7-10 days, max. It's becuase of the tech industry has brought so many people to King County. Again, we are New York City and San Francisco, in terms of cost of living, and overhead.
They can't hire people for $20 bucks an hour, and the Insurance companies won't pay a shop rate at $85 an hour, (which are wages at $30 to $35 an hour). They will only pay a shop $65 an hour rate.
Light industrial in Bellevue is scarce. They didn't plan on the extra one million people who would have needs like car repairs, etc. It's the same light industrial as it was 50 years ago. Actually, it's less today, because of the Light Rail, Facebook, Google and Microsoft demolished some of the light industrial for the new Spring District in Bellevue.
Biggest employer's are Amazon, Microsoft, Google, and Facebook. Hundreds of smaller tech companies.
Other employers: Disney, Apple, Netflix, Uber, Space X, Tesla, Blue Origin, Boeing, Oracle, Starbucks, and the legal and medical industry, etc.
Seattle, Austin, and the Bay Area leads the nation in high paying jobs.
Another example. Taco Time for 3 people, is $37.00. Five Guys hamburgers for 3 people is $57.00. A Lube Oil & Filter change at Jiffy Lube is now $80.00 (without the coupon).
Someone told me McDonald's is expensive, too.
Speaking of fast food, Taco Time's starting wage is $23.00 an hour. Burger King is closing most locations because they have a hard time hiring people, and going to a Burger King is like going over to your poor cousin’s house. The screen door held together by duct tape. It’s just a bit “off.”
Keep in mind, the last time I went to a Burger King was 15 years ago. You go into a Red Robin, and there are two servers for the entire restaurant! Again, you can't rent an apartment for these wages. You have to commute from Auburn, Federal Way, Fife, or Tacoma.
Your entry level home in Auburn, Kent, Covington, Federal Way, Fife or Tacoma is $600,000. Your commute to Bellevue or Seattle is brutal, unless you're near the Sounder Train and work in downtown Seattle, or work hybrid from home.
Cost of living is high, especially for folks on a fixed income, or retired.
For us, our short list is Arizona, Florida, or South Carolina. Would consider Texas, but the property taxes in Texas are considerably high.