What does Amazon mean to Seattle (and housing costs)?

There are many opinions bantered about on the impact of Amazon in Seattle. It often comes up in the context of the developer community justifying the price of new construction condos, or the thousands of close-in new apartment units under construction. Residential neighborhoods, from Queen Anne to Cap Hill to Ballard, are also abuzz with the subject of rising prices/values due to the Amazon effect. This doesn’t deal as much with the value equation as I’d like, but is a good article: http://www.xconomy.com/seattle/2012/05/09/amazon-takes-over-seattle/. What do you think?

Update:

Some renderings of Amazon’s office plans: http://www.bizjournals.com/seattle/blog/2012/05/new-renderings-showcase-amazon-campus.html?s=image_gallery