The Great Seattle Land Boom of 1888
A look at the frenzied real estate market as Seattle's rapid expansion fills the ledger books with record-breaking capital.
The story, cleaned up
A cleaned-up reading of the newspaper page: spelling and layout repaired, one story lifted off a crowded page. It follows the original closely but it is not a transcription. The original page is below; read it if a detail matters.
During the year 1888, Seattle has been the most active point of the Northwest, with the notable exception of February, 1886, when the $2,000,000 Oregon Improvement Company sale made the larger total. The total during March 1888—except January 1888—is the nearest approach to that period. The month of March has not been notable for heavy individual deals, but the number of transactions has been high. There is no reason to anticipate a falling off of sales during the coming month, nor, in fact, during the later months of this year. The outlook has not been so good in the history of the city; the confidence in the future of Seattle has not been in any degree impaired by any circumstances or combinations. There is more commercial activity present and visible on our streets now than at any time in preceding years. There is more capital seeking investment just now than ever before, and a healthier and better feeling in all business circles than has ever been manifest in our city.
“There is more capital seeking investment just now than ever before, and a healthier and better feeling in all business circles than has ever been manifest in our city.”
In 1888, Seattle was experiencing a feverish land boom driven by massive capital influx and infrastructure development—an early echo of the city's modern struggles with gentrification and runaway housing costs. The narrative of 'record-breaking activity' and 'confidence in the future' remains the constant refrain of Seattle's real estate industry, regardless of the century.
From readers
No comments yet. If you know something about this story — a correction, a family memory, a source — it belongs here.