The moment we’ve all been waiting on baited breath for finally happened this week, as Amazon revealed the 20 finalists for its second headquarters, commonly referred to as Amazon HQ2.
According to CNN, Amazon received bids from 238 cities and regions throughout North America, all vying for their chance to be the online retail giant’s second home.
Amazon said that it expects to invest more than $5 billion and plans to grow its second headquarters into a “full equal” to Amazon’s current headquarters in Seattle. Amazon also expects to create as many as 50,000 “high-paying jobs” for the selected area.
But what else might come with that much corporate investment and new high-paying jobs? Higher home prices.
And for half of the 20 markets on Amazon’s shortlist, home prices are already on the verge of overheating.
The 20 markets on Amazon’s list are: Atlanta, Georgia; Austin, Texas; Boston, Massachusetts; Chicago, Illinois; Columbus, Ohio; Dallas, Texas; Denver, Colorado; Indianapolis, Indiana; Los Angeles, California; Miami, Florida; Montgomery County, Maryland; Nashville, Tennessee; Newark, New Jersey; New York City, New York; Northern Virginia; Philadelphia, Pennsylvania; Pittsburgh, Pennsylvania; Raleigh, North Carolina; Toronto, and Washington, D.C.
Of those, 19 are in the U.S., and a newly released analysis from CoreLogic shows that…