4 ms·
Regionally, we've had a couple thousand high end luxury units built, but no great growth, to keep up with growth we need an order of magnitude more housing then
by Aloha 7y ago
Regionally, we've had a couple thousand high end luxury units built, but no great growth, to keep up with growth we need an order of magnitude more housing then that. There has been almost no growth of rental housing outside the downtown core.
My rent more than doubled from 2012, to 2015, and then went up 10% a year thereafter - you are mostly correct, for one year in there my rent didn't go up - then the northward climb began again in earnest. I was living for most of that in what most would call affordable housing.
The market probably would do its job and solve the issue, provided we didn't make it so dang hard to actually build anything in the City of Seattle.
- quotemstr 7y ago> The market probably would do its job and solve the issue, provided we didn't make it so dang hard to actually build anything in the City of Seattle. With you there. But compared to the Bay Area, Seattle is practically permissive.
- BurningFrog 7y ago> Regionally, we've had a couple thousand high end luxury units built People conflate "luxury" and "expensive". Any housing you build in an acute housing shortage will be expensive. This is because there is so much unmet demand, not because it's "luxury". So it's impossible to build cheap housing in a housing crisis, and if you demand that only cheap housing be built, you're actually demanding no new housing! For existing home owners and landlords, that is a profitable strategy to weed out competition for their assets. For anyone else: Don't get fooled!
- Aloha 7y agoThe high rise units downtown are undisputedly luxury though