Economy Oct 7, 2016 at 10:15 am

Rents To Rise Sharply in Seattle's Suburbs

Charles Mudede
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Comments

1
Increase the population suddenly without an increase in available housing? Tear down anything that costs under $350k and replace it with a $900k megahouse?
Gee, what did you think was going to happen?
SPG on October 7, 2016 at 10:44 AM Report this
2
LAND, n. A part of the earth's surface, considered as property.
The theory that land is property subject to private ownership and control is the foundation of modern society, and is eminently worthy of the superstructure. Carried to its logical conclusion, it means that some have the right to prevent others from living; for the right to own implies the right exclusively to occupy; and in fact laws of trespass are enacted wherever property in land is recognized. It follows that if the whole area of terra firma is owned by A, B and C, there will be no place for D, E, F and G to be born, or, born as trespassers, to exist.
treacle on October 7, 2016 at 10:49 AM Report this
3
Ah, the perils of letting people own property they don't live in.
The Shadow on October 7, 2016 at 10:49 AM Report this
4
@3 you realize that if we didn't do that there would be almost no apartments right?

Think this stuff through..
Seattle Transplnt on October 7, 2016 at 10:51 AM Report this
5
@1 - Add to that a massive increase of foreign property buying and ownership, with 38% of purchases made in CASH...
We do know that 38% of purchases in Seattle real estate are done with cash, which is a red flag suggesting something is out of whack.
treacle on October 7, 2016 at 10:52 AM Report this
6
@4 Yeah: co-ops.
The Shadow on October 7, 2016 at 10:54 AM Report this
7
Uh oh, better stop building light rail.
Mtn. Beaver on October 7, 2016 at 11:06 AM Report this
8
The much more important question is WHEN WILL WE GET DEL TACO IN SEATTLE? By the way, when all you non-native Pacific Northwesterners started moving up here on the 1970's, Reedies like me knew it was over. Now I lease out my old Victorian for close to $12,000 a month and live on Vashon.
Arty Zifferelli on October 7, 2016 at 11:57 AM Report this
9
Gosh, it's almost like artificially increasing the minimum wage led to an increase in the rent that was charged. Funny how that works.
Mike_McSchwinn on October 7, 2016 at 12:35 PM Report this
10
@7 come on. The light rail may drive up rent. It may come in years late and 80% over budget. It may not do a damned thing to reduce congestion. But . . . I forgot what point I was going to make.
Mike_McSchwinn on October 7, 2016 at 12:38 PM Report this
11
@9:

That's a rather blatant example of causal reductionism. Please point to any actual evidence that raising the minimum wage has led directly to increase in rents.
COMTE on October 7, 2016 at 12:42 PM Report this
12
Well that's fucking depressing, to put it lightly. I live very close to where I work, but I pay a high rent for only a single bedroom in a 3BR condo. I am willing to do this because I consider the alternative - spending hours of my day to get to and from work - to be worse.

Soon, I won't even have the option of being poor but close to work. I'll have to move elsewhere just to keep my head above water, and I'll have neither time nor money.
Knat on October 7, 2016 at 12:48 PM Report this
13
@11 http://www.scpr.org/news/2015/05/21/5188…
Mike_McSchwinn on October 7, 2016 at 12:56 PM Report this
14
@1, @5, @8, and @12: This is truly fucking depressing, indeed.
I remember when I could pay $560 a month for a one-bedroom apartment
with parking garage space in Ballard. Seattle is not the city I remember
from the late 1960's.
auntie grizelda on October 7, 2016 at 12:59 PM Report this
15
@13 - He said actual evidence. Not ante-facto hand-wringing by economists who side with the rich.
treacle on October 7, 2016 at 1:11 PM Report this
16
@9: Gosh, it's almost like increasing the rent lead to a need for a higher minimum wage. Funny how that works.
The Shadow on October 7, 2016 at 1:15 PM Report this
17
@13 HAHAHAHA. You didn't read the article did you?

Nothing like hasty post hoc google searches to show your ass, is there.

Dr.Zaius on October 7, 2016 at 1:54 PM Report this
18
Charles, poverty, in our neoliberal zeitgeist, is considered to be a individual failure rather than a systemic problem, so we'll continue to ignore it. @8, we also need a deli in Seattle that does smoked meat sandwiches a la Schwartz's in Montreal and Miles End in NYC. Screw sushi fanaticism.
neo-realist on October 7, 2016 at 1:58 PM Report this
19
This isn't news. It already has. It has also risen sharply in the much further out, semi-rural and rural areas. Seattle's fatal disease is highly contagious and it's airborne.
Purrls on October 7, 2016 at 2:15 PM Report this
20
@16 Perhaps if it weren't for the labor surplus brought on by illegal immigration (particularly given Seattle's status as a "sanctuary city") workers would have the bargaining power necessary to negotiate better wages.
Mike_McSchwinn on October 7, 2016 at 2:52 PM Report this
21
All I need is for our elected idiots to not crash and burn the economy for 2 or 3 more years. Then I can sell my ridiculously overpriced Ballard house and move to East Wenatchee. Prices are going up over there but, nothing like Seattle/KingCo. It will be one of the greatest days of my life when I flee this clusterfuck of a city.
The Mighty Jackalope on October 7, 2016 at 4:43 PM Report this
22
M. E. H. I have a Fed job with a cost-of-living adjustment. I get around 12 grand on top of my G.S. grade. Also, I know how to grind and brew my own coffee.
Arty Zifferelli on October 7, 2016 at 5:45 PM Report this
23
@8 Del Taco sucks. And what happened to COCAINE AND MALT LIQUOR?
dvs99 on October 8, 2016 at 1:29 AM Report this
24
No worries. The city is ready to enact homeless camping. Some of the best, prime real estate with waterfront views are up for grabs. We'll draw people in the thousands once this gets out. So yes, Amonzonites, your cheap lunch with free delivery will continue. Please tip generously.
mallow on October 8, 2016 at 10:57 AM Report this
25
@15

Someone posts a peer reviewed article written by economists, and your response is that the economists are in conspiracy with rich people, and to back it up you post a cartoon chronicling the history of labour reform?

Wow.
Baconized on October 9, 2016 at 11:29 AM Report this
26
Socialism prevents economic crises? You are seriously going to try to peddle this BS? Is that why Venezuela is such a hell hole that everyday people there cannot find diapers or toilet paper to purchase today?
luckyangler on October 10, 2016 at 11:16 PM Report this
27
Socialism prevents economic crises? Seriously? You are actually going to try to peddle this BS? Is that why socialist price controls mean the typical Venezuelan mother cannot find diapers or toilet paper today? Or is that why the socialist farming restrictions in Zimbabwe today have created economic conditions such that the leading source of dinner meat is rats?
luckyangler on October 10, 2016 at 11:21 PM Report this

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