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But because Seattle artificially restricts housing supply, the high paying jobs bring in people like me that can absorb the cost, pushing out people that can't
by kyllo 13y ago
But because Seattle artificially restricts housing supply, the high paying jobs bring in people like me that can absorb the cost, pushing out people that can't absorb the cost
I do know that the pace of new housing construction in the Seattle metro area is very low, and last winter the housing supply on the market hit its lowest level since late 90s dot-com boom. Now I don't know if this is truly due to artificial/legal/zoning restrictions as you say, or if it's just due to the geography and the fact that the areas within reasonable commuting distance of Seattle are pretty well built out already--or some combination of both. But the fact is, people are moving here much faster than we are building housing for them, and it's pushing up prices very fast.