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Why the ‘Amazon effect’ on house prices may be muted in the chosen HQ2 cities

As Amazon AMZN, +0.92% closes in on selecting the location for its second headquarters, experts say property speculators to tread carefully.

The company is reportedly in late-stage discussions with communities in Crystal City, Va., just outside Washington, D.C., and Long Island City, N.Y. to build its second headquarters, The Wall Street Journal reported Monday. The company’s current headquarters is in Seattle, Wash. (Some reports have said Dallas is also still in the running.)

Amazon has said that its second headquarters or HQ2 would bring more than 50,000 employees and create more than $5 billion in economic investments over 20 years, and potential HQ2 locations went to great lengths to woo Amazon.

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