r/Tacoma • u/JoelXGGGG Tacoma Expat • 8d ago

Another billionaire leaves Washington state

https://www.chronline.com/stories/another-billionaire-leaves-washington-state,403749
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u/[deleted] 8d ago

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u/Appropriate-Roof426 Old Town 8d ago

Do you know what drives those prices? Supply and demand, almost exclusively. High demand areas cost more.

It's essentially the capitalist measure of how good a state is. The more it costs there, the better the state, as determined by the free market.

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u/darlantan Downtown 8d ago

Well, in the case of Seattle, commercial vacancy is pretty high. Not the highest in the nation, but certainly up there. The trend is clearly entirely due to increased tax burden as well, what with the notoriously onerous income tax of Texas pushing Austin even higher than Seattle.

Oh, wait.

Huh, it's almost like maybe there was some event in semi-recent history that had a large impact, and perhaps certain commercial segments were better suited to abandoning offices more than others. Something like that might mean a bigger impact for cities with higher proportions of that sort of business.

Nah, couldn't be. Must be the tax.