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Propaganda Hat's avatar

Hi! I'm a renter in one of the neighborhoods that has a petition to opt out and I'm considering making a counter petition because I want more housing. Sure, I have my own aesthetic preferences, but the need for housing, no matter what, is more important. An 800 foot radius around a point is so tiny it's stupid. We need more housing and we need it everywhere.

For the 13 years I've lived in Seattle, I have magically managed to get really affordable rent and then Seattle locked it in with the increase cap. On top of that, both myself and my husband are software developers, so we're much more financially secure than the average person, I would guess. But when the house next door went up for sale, I did the math and even on our income, it just did not make financial sense. It sold for $1.2M and even if we had made a 20% down payment, we'd be paying $9000/month - three times what we do for rent - ultimately paying far more than $1.2M because of interest, property tax, and homeowner's insurance. Over a 30 year time frame, if we instead invested $5000/month at 6% interest, we'd make $3.2M. I don't think houses should be treated like investments, so I refuse to take resale value into account. I don't want houses to cost $5M in 30 years. That's how much I would have to sell it for to just match the stock market. Buying a house, at least right now, is financially stupid.

We all know there's not enough housing, but when the math doesn't make sense for us, at our income levels? We need housing of all kinds. Lots of it. And we need it yesterday. Neighborhood characters are going to change, and people are going to have to get over that. In my opinion, it will be for the better. There are too many hoods in Seattle with histories of restrictive covenants whose residents are effectively maintaining that legacy by being NIMBYs about upzoning. You can signal you're not racist with your "black lives matter" yard sign, but the "keep Wallingford Wallingford" sign next to it tells a different story.

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CJ's avatar

Here's a question - for those of us that want more density, would it actually be advantageous for the council/mayor to not get their stuff together and just have the state's model code take over? I don't know enough about it to know.

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