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Seattle Is Now the Number Three US City for Foreign Real...

A tweet by Mike Rosenberg, a business reporter at the Seattle Times, offers a link to an interesting document released by the Association of Foreign Investors in Real Estate (AFIRE). The document the organization dropped is called "London Edges Out NY as Top City Among Foreign RE Investors." It mainly concerns the global investor class's renewed interest in London's real estate market after a period of uncertainly caused by the 2016 passing of Brexit. As a consequence, London's real estate market is once again the top target for what I call global surplus capital. Interesting enough, AFIRE rates Seattle as the third-best city in the US. The former condition has meant slow growth and few investment opportunities for the latter; yet it is the owners of the latter who place great political pressure on advanced capitalist states to keep wages low or stagnant. It appears to investors around the world like a Mount Rainier on a prairie. They soon send their capital in that direction, and this capital almost immediately inflates already inflated values in that sector or that region. Seattle is not like Dubai, a global city that has no illusions about the investor class and what it can do to a city's economy. This is yet another contradiction of capitalism.