Mayor’s Affordability Committee Releases Tepid Growth Recommendations

As a follow-up to this morning’s post about the future of single-family housing in Seattle, here’s the final report from the Mayor’s “Housing Affordability and Livability Advisory Committee”: Seattle Housing Affordability and Livability Agenda (pdf) There are a few relevant portions of the report that address single-family zoning. From page 21 of the report: MF.1 […]

Seattle Preparing to Say Goodbye to Single-Family Zoning?

Remember a few months ago, when I suggested that single-family housing in Seattle would be on its way out soon? If Seattle’s population keeps growing, there is a hard housing reality that we’re going to have to face: the death of the single-family home. As of 2013, roughly 43 percent of Seattle’s housing stock is […]

How Does Seattle City Councilmember Kshama Sawant Plan to “Make Seattle Affordable for All”?

I drove down to Leschi last weekend, and I saw a surprising number of yard signs promoting the re-election of Kshama Sawant to the Seattle City Council. As you can see in the photo at right (taken from her campaign’s Twitter feed), the slogan on these signs implies that Sawant’s main goal is to “Make […]

Low Rates Add $120K to the “Affordable” Home Price

Low Rates Add $120K to the “Affordable” Home Price

As promised in yesterday’s affordability post, here’s an updated look at the “affordable home” price chart. In this graph I flip the variables in the affordability index calculation around to other sides of the equation to calculate what price home the a family earning the median household income could afford to buy at today’s mortgage […]

Affordability Index Kept Under Control by Low Rates

Affordability Index Kept Under Control by Low Rates

A reader pointed out that we haven’t looked at how the affordability index is doing in the Seattle area since late last year. Let’s update our standard charts. So how does affordability look as of April? Despite median home prices shooting up, falling interest rates that are back below 4 percent again have kept the […]

Affordable Home Price Climbs Above Median Price

Affordable Home Price Climbs Above Median Price

As promised in yesterday’s affordability post, here’s an updated look at the “affordable home” price chart. In this graph I flip the variables in the affordability index calculation around to other sides of the equation to calculate what price home the a family earning the median household income could afford to buy at today’s mortgage […]

Affordability Index Bounces Back Above 100

Affordability Index Bounces Back Above 100

Let’s take a look at how affordability is doing in the Seattle area after the last few months of changes in home prices and interest rates. So how does affordability look as of October? With home prices stagnating this fall and interest rates inching back down close to 4 percent, the affordability index moved back […]