This week I saw it reported that in this decade alone, the Seattle area is set to deliver more new rental apartments than it did in the prior 50 years combined. 

And as a result, the sentiment is that new housing supply is finally starting to keep pace with demand and put downward pressure on rents. 

Do you remember who was the crane capital of the US a year ago? They may still have that title.

In some of the most desirable neighborhoods of Seattle – where much of the new supply is coming online – rents dropped 6% compared to the prior quarter. At the county level, this last quarter was by far the biggest drop of the decade according to the Seattle Times.