Jenny Durkan Wants to Inflate Seattle Housing Bubble with Money from Wealth Funds


You write like someone that thinks they understand these things.
The whole point is that affordable housing should not depend on philanthropy. Would you have been happy if she had proposed charitable settlement housing?
Her claim that 'the rich will help the poor so as to get richer' is inaccurate on so many levels. Thanks for the analysis.
Seattle doesn't have any big housing project blocks. Isn't that something everyone's dancing around? The entire metro area needs more than a couple hundred units. Hourly workers aren't moving to Everett and Kent for the different flavors of homeless and meth. Talking about singular projects is like talking about which finger you should stick in the broken dam.
@4, well maybe Kent: rents up in Everett/Edmonds/Lynwood are starting to shoot up significantly in the past couple of years. Semi-decent one bedrooms can easily start in the $1,400-$1,500 with two bedrooms starting close to $2,000. You can still find cheaper up north but trust don't want to live their with children or any tech devices worth more than $50
Our official rate of inflation in Seattle is around 4% annually depending upon who's calculating it, so that 5% to 7% is really an inflation-adjusted 1% to 3% if that's any consolation.

Rates of return under inflation--like our bank savings accounts or government bonds--are drastically losing purchasing power each year.
Moon is more forthcoming, tax everything.
So you don't think the is "old Money" in Seattle who would take a government backed investment vehicle at 5% and feel good about themselves. so you want a full plan with a 1 minute or 2 minute time limit. You are just bashing her because she is just liberal and not really liberal. And Moon does not know what the right to free speech means. But then again they both seem sane.
I am tired of extreme and crazy and obstructionists. I want leaders who are compassionate, fair and SANE. Ohh... and not pedophiles.
Hi Charles. You are aware that a major (if not the largest) source of affordable housing development in Seattle and around the country is the Low-Income Housing Tax Credit, right? Yielding 4% or 9% per annum returns to the investors. Do we understand you to be opposed to programs like that, or to think they are not worthy, because investors get a return on their investment? Actually, I don't know what I am supposed to understand from what you are saying. Maybe it's just that if anybody with money might benefit from a candidate's positions, she is ipso facto unacceptable to you, whether the public at large benefits or not.
How ironic that the same prison who was unable to find any evidence of criminal wrongdoing at WAMU when she was US Attorney for Western Washington is now hyping investment schemes that are blowing up the Seattle housing bubble.
Durkin is our hope for some sanity in this city.
There is far, far more surplus capital in the US than there is in China, or in any other nation. And the surplus capital chasing real estate in the US is almost entirely domestic, American surplus capital.

But that does not sell nearly as well as xenophobia. The best way to end capitalism and promote socialism is to stir up people's fears and resentments of each other. A little bit of untruth does not matter so much here, it is more important to make sure people are frightened of and angry at The Other. The goal is not truth or "peace" or the betterment of the society you and your children live in, the goal is revolution. Never forget this!
>>Durkan clearly doesn't appreciate the dangers of modern finance.
–Oh, and Heidi Groover DOES understand the dangers of modern finance? Guess we're lucky to have her.