Friday, August 25, 2017

Big Yellow Cranes

See all those big yellow cranes? We’re sorry to say that they’re probably not building your next home. Our current regulations make building offices and rental units more appealing to developers than condos, townhomes, single-family homes and mixed-use properties that serve the middle class.
Even if they were building homes to put on the market, we’re so far behind demand that it will take much, much more construction to catch us up. But it’s worth making the effort now: a study by the California Legislative Analyst’s Office has shown that building enough supply would result in lower prices. As more proof, Tokyo has not seen rapid home price appreciation because it meets all new demand by building more housing.

If you’re curious about all the construction, you’re not alone. Seattle in Progress is a free map tool that shows what’s being built all around Seattle. Explore the map

Today's blog courtesy of The Housing Translator.

Happy Investing!

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