Amazon headquarters seattle dome

  • Amazon has promised 50,000 jobs to the city that’s home to its second North American headquarters.
  • Critics say that hosting the company’s headquarters isn’t all it’s cracked up to be.
  • In Seattle, the home of Amazon’s existing headquarters, the retailer has been blamed for astronomical hikes in real estate costs, traffic gridlock, and rising homelessness.
  • Trulia data shows the median four-bedroom home in Seattle now costs $847,00, up from $756,000 last year and $510,000 five years ago.

More than 200 US cities are competing in a cutthroat bidding war for a chance to become the home of Amazon’s second North American headquarters, dubbed HQ2.

It’s easy to understand why: Amazon has promised a $5 billion investment and 50,000 jobs to the city with the winning bid.

But critics say Amazon’s coveted jobs could come at a staggering cost to the winning bidder, and not just in the form of billions of dollars in tax breaks that cities are offering to lure the e-commerce giant.

In Seattle, the home of Amazon’s existing headquarters, the retailer has been blamed for astronomical hikes in real estate costs, traffic gridlock, and rising homelessness, among other issues.

“There are a lot of people in Seattle who are at the losing end of the prosperity that Amazon brings,” said Knute Berger, a journalist, historian, and Seattle native. “There has been a lot of displacement. Minority communities have largely been driven out of the city for less expensive suburbs, and competition for homes and rents has dramatically increased, contributing to the rising homeless population.”

Seattle has led the nation in housing price increases for 13 consecutive months, with prices rising about twice as fast as the national average, according to the Seattle Times.

Trulia data shows the median four-bedroom home in Seattle now costs $847,00, up from $756,000 last year Read More Here