The Right Solution... Create More Housing
We don’t have a rent problem; we have a supply problem. Due to decades of increasing regulation, artificially constrained land supply and ever-increasing inefficiencies in permitting, the creation of units has not kept up with demand. In fact, the WA Dept of Commerce recently estimated that we will need an additional 800,000 units by 2045, to address our current deficit and keep up with demand.
This is obvious to most but those promoting rent control and tenant protections think these band aids will somehow fix the problem while kicking the proverbial can down the road, something they have already been doing for over a decade.
While opposing rent control and tenant protections, in private conversations and public testimony we and our industry partners have been repeatedly told “Give us a solution then” which we always reply with “we have, more supply!”
We are actively supporting many of the supply side bills filed this year and will continue, along with our partners in real estate, construction, development, to bang the drum of supply. Some of these bills include:
- HB 1110 & SB 5190 Middle Housing
- HB 1111 Housing Benefit Districts
- HB 1167 Residential Housing
- HB 1245 & SB 5364 Lot Splitting
- HB 1337 Accessory Units
- HB 1350 Multifamily Unit Conversion
- HB 1401 Housing Permit Process
- HB 1402 Urban Growth Boundaries
- SB 5117 State Building Code Council
- SB 5466 Transient Oriented Development