commented on The Rent Hike
@4 - this isn't increasing density. they're not adding more units to the building. they're able to jack up the rent so much because it's a high-demand area.
even as more housing is built in an area like capitol hill, demand still far outpaces supply, so rents continue to climb. it's not until there's MORE supply than demand that rents will stabilize. that's what could happen in ballard in the next few years. see: http://seattletimes.com/html/businesstec…
"But analysts such as Cain and Dupre + Scott's Mike Scott forecast that, in a year or so, all the new construction will start to tip the balance between demand and supply.
Vacancies will rise, they say. Rents will stabilize, perhaps drop. Landlords will start offering tenants concessions like free rent again."
this is a fucked-up situation, but it's not increased density that's the problem. it's simply the number of people who want to live in the center of the city and are willing/able to pay $1400 a month for a one-bedroom. why we need rent control!!