Seattle Growing Faster than Suburbs
The Seattle Times reports this morning that for the first time in a century the growth trend in our region has changed: more people are moving to Seattle than surrounding towns and cities.
The housing market reflects this trend; more people are seeking jobs in Seattle and also a place to call home.
Signs of Seattle’s success are not difficult to spot. Everywhere you look there seems to be a new apartment building under construction. As reported in The Seattle Times, more apartments were opened in 2013 than in any of the previous 20 years.
And the people needed to fill all those new units are showing up. Seattle gained more than 23,000 residents between 2010 and 2012. Census data show that among the 50 most-populous U.S. cities, Seattle has had the eighth-fastest rate of growth.
This growth is a good thing for the city; it means our economy is getting better. It also means increasing demand for housing. If we don’t build more housing it will become scarce, and scarce housing means higher priced housing. If we allow more housing of all kinds in all neighborhoods, we’ll get stable or even falling prices for housing. If we hesitate and add more fees and process, prices will get higher and the voices demanding more regulation and price controls will get louder.
Ironically it’s that discomfort and those voices the City Council hears from the most as we grow, and those voices often advocate for policies that would make things worse: more limits, process, and fees on new housing.
That’s why as we grow, we should be thinking ahead; we can make things get better or fall behind like San Francisco that is now 100,000 units behind in meeting housing demand. Now that’s uncomfortable and expensive for everyone.