About two weeks ago I sold my home of 26 years and my wife, dog, and I all moved into a high rise condominium in the middle of downtown Seattle. In my work life once the business day was over I usually headed for home, away from the center of town. Now I can see what is going on 24 hours per day in Seattle.
I tried to go to a restaurant last Wednesday night, calling about an hour before I wanted to go. The first three I called (all close to where I live) were fully booked. The fourth one had a table at 9:30. I remember saying out loud to my wife “this is Seattle, not NY; we should be able to get a table on short notice as we always have”. Not anymore. The City is really back to life.
I have several clients and friends who are in the food business and they all are reporting the same thing: significant activity has suddenly appeared after a very long slow period. For those who survived the drought they are now enjoying the rain (so to speak).
I cannot help but think that it always starts with the cheapest laborer in the market. This could be the dishwasher at a restaurant who is now washing so many dishes the place has to hire a second. This could easily be a phenomenon but it could just as easily foretell that the economy is really heading up, finally.
What does this have to do with the apartment business? A lot, in my opinion.
What do you think?
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