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Some investors have a mixed attitude about buying right now, but they are buying anyway. They complain about how high prices are and how low the capitalization rates are. They fear interest rates will increase and that will drive up cap rates. And they are concerned about all the new construction in our market. But in the next breath, they tell us that, in spite of these concerns, they still think apartments in the Seattle metro area make more sense than alternate investment options. So let’s take a look at how this year is unfolding.