After Seattle-based Amazon this week chose Long Island City in Queens (New York City) and Arlington in Virginia as its second and third headquarters locations, the impacts of that decision are beginning to register beyond those two cities. Experts at Wharton and the University of San Francisco identified some of the major takeaways from Amazon’s so-called HQ2 selection process , which began 14 months ago and saw 238 cities vie for the billion in investments and 50,000 jobs the company promised to deliver over 12 years.

Amazon’s decision on the locations for its two new headquarters is “a brilliant move,” according to Susan M. Wachter , Wharton professor of real estate and finance, who is also co-director of the Penn Institute for Urban Research . However, the move will certainly impact housing prices, Wachter noted.…