If high demand cities like Seattle hope to avoid the fate of insanely priced cities like San Francisco, they'll have to do a better job of addressing the housing supply side and stop placing the burden of subsidy on new development.
"With the latest reports of surging housing prices in Seattle, affordable housing is once again a hot topic in wonkland," writes Dan Bertolet. "Both the Mayor’s office and City Council have recently convened committees to explore affordable housing strategies, but unfortunately these efforts are largely focused on approaches that place the burden of providing affordable housing on new development. The problem is that exacting additional fees on new buildings discourages development and increases the cost of production, both of which run counter to the original intent of making housing more affordable."
"If Seattle aspires to be truly progressive on affordable housing—and hopes to avoid the fate of insanely priced cities like San Francisco—a serious reassessment is in order, a key component of which must be proper consideration of the housing supply side."
FULL STORY: We Should All Be On Supply’s Side
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