This document discusses rent control and housing policy in Seattle. It provides historical examples of rent control from Roman Emperor Diocletian, King Cnut the Great of England, and Seattle City Councilmember Kshama Sawant. It summarizes economic arguments against rent control, including that it reduces housing supply and incentives for landlords. The document also discusses potential policies to increase housing supply in Seattle such as allowing more development and using tax credits and subsidies instead of rent control.
This document summarizes the history of rent control policies from ancient Rome to present-day Seattle and Washington State. It discusses views from prominent historical figures on housing policies. The document concludes by outlining possible paths for implementing rent control in Seattle and Washington State over the next year and arguments against such policies. It also discusses related housing policies like commercial rent control and mandatory inclusionary zoning being considered in Seattle.
The document outlines eight risk reduction steps for landlords to avoid legal actions: 1) perform necessary repairs to provide tenants a safe environment; 2) follow all fair housing laws in renting; 3) settle issues without retaliation; 4) follow laws regarding entering a tenant's property; 5) pay attention to lead-based paint laws; 6) take immediate action regarding mold issues; 7) investigate any illegal activities; and 8) register rental properties with the appropriate authorities. The best course of action is to avoid actions that incur liability.
This document discusses ICOs (Initial Coin Offerings) and the legal issues surrounding them. It notes that while ICOs raised billions in 2017, many did not comply with securities laws. The SEC and other regulators have since cracked down, issuing subpoenas and charges. The document provides rules for startups to follow to conduct a compliant ICO, including determining if blockchain is really needed, following securities laws if conducting the ICO in America, understanding the many applicable rules, being truthful to protect investors, and expecting the process to be lengthy and expensive but worthwhile to do legally. It promotes following the advice of attorney Kendall Almerico on these matters.
The document lists various powers of government including borrowing and collecting taxes, building infrastructure like roads, chartering corporations and banks, declaring war, establishing courts and local governments, issuing licenses, making and enforcing laws, regulating commerce within and between states, printing currency, providing public services like education, police and military, and conducting foreign relations and treaties.
This document analyzes rent control policies from Seattle For Growth, an advocacy group for more housing. It makes three key points:
1) Rent control policies fail to address the underlying cause of rising housing prices, which is an imbalance of high demand and low supply due to development restrictions. Price controls do not work and have failed throughout history.
2) Rent control has a long history dating back thousands of years, and while intended to help tenants, it often backfires by discouraging new construction and causing housing shortages.
3) Arguments against rent control, such as that it stifles new construction and leads tenants to hoard housing, were made as far back as 1950 based on historical examples
How YOU can make a FORTUNE from BUY TO LET in 2019RossMob1
This document summarizes why 2016 is a good time to invest in buy-to-let property despite media headlines warning of tax changes hurting landlords. It argues that past major changes like the 2008 credit crunch did not stop property investment long-term. Savvy investors used changes like tax increases as opportunities to buy properties cheaply from panicking sellers. The document claims most warned impacts, like large price drops or removed mortgages, did not occur. It advises viewing most warnings skeptically but staying aware of real changes, and gives examples of successful strategies during past disruptions.
This document summarizes trends in real estate technology. It discusses how real estate portals are evolving from search engines to service engines by moving closer to transactions and taking on more of the transaction process. It provides insights into iBuyers (instant home buyers) and their business models and margins. It also discusses how human psychology is an important factor in real estate that technology must address. The document outlines risks for real estate technology companies, including hubris from raising a lot of funding, not properly addressing human psychology, and claiming to be more efficient without proven results.
This document discusses different perspectives on housing policy and affordable housing. It examines the view that housing prices are determined by supply and demand versus the view that prices are determined by profits. It also discusses debates around whether more housing subsidies or more overall housing production is needed to address affordability. Non-profit housing models are described as well as challenges around development costs and unit sizes. The document questions whether current policies aimed at "investing" in affordable housing through subsidies and taxes are actually driving up overall housing prices. It argues for a more market-based approach focused on deregulation and streamlining to increase overall housing supply.
This document summarizes the history of rent control policies from ancient Rome to present-day Seattle and Washington State. It discusses views from prominent historical figures on housing policies. The document concludes by outlining possible paths for implementing rent control in Seattle and Washington State over the next year and arguments against such policies. It also discusses related housing policies like commercial rent control and mandatory inclusionary zoning being considered in Seattle.
The document outlines eight risk reduction steps for landlords to avoid legal actions: 1) perform necessary repairs to provide tenants a safe environment; 2) follow all fair housing laws in renting; 3) settle issues without retaliation; 4) follow laws regarding entering a tenant's property; 5) pay attention to lead-based paint laws; 6) take immediate action regarding mold issues; 7) investigate any illegal activities; and 8) register rental properties with the appropriate authorities. The best course of action is to avoid actions that incur liability.
This document discusses ICOs (Initial Coin Offerings) and the legal issues surrounding them. It notes that while ICOs raised billions in 2017, many did not comply with securities laws. The SEC and other regulators have since cracked down, issuing subpoenas and charges. The document provides rules for startups to follow to conduct a compliant ICO, including determining if blockchain is really needed, following securities laws if conducting the ICO in America, understanding the many applicable rules, being truthful to protect investors, and expecting the process to be lengthy and expensive but worthwhile to do legally. It promotes following the advice of attorney Kendall Almerico on these matters.
The document lists various powers of government including borrowing and collecting taxes, building infrastructure like roads, chartering corporations and banks, declaring war, establishing courts and local governments, issuing licenses, making and enforcing laws, regulating commerce within and between states, printing currency, providing public services like education, police and military, and conducting foreign relations and treaties.
This document analyzes rent control policies from Seattle For Growth, an advocacy group for more housing. It makes three key points:
1) Rent control policies fail to address the underlying cause of rising housing prices, which is an imbalance of high demand and low supply due to development restrictions. Price controls do not work and have failed throughout history.
2) Rent control has a long history dating back thousands of years, and while intended to help tenants, it often backfires by discouraging new construction and causing housing shortages.
3) Arguments against rent control, such as that it stifles new construction and leads tenants to hoard housing, were made as far back as 1950 based on historical examples
How YOU can make a FORTUNE from BUY TO LET in 2019RossMob1
This document summarizes why 2016 is a good time to invest in buy-to-let property despite media headlines warning of tax changes hurting landlords. It argues that past major changes like the 2008 credit crunch did not stop property investment long-term. Savvy investors used changes like tax increases as opportunities to buy properties cheaply from panicking sellers. The document claims most warned impacts, like large price drops or removed mortgages, did not occur. It advises viewing most warnings skeptically but staying aware of real changes, and gives examples of successful strategies during past disruptions.
This document summarizes trends in real estate technology. It discusses how real estate portals are evolving from search engines to service engines by moving closer to transactions and taking on more of the transaction process. It provides insights into iBuyers (instant home buyers) and their business models and margins. It also discusses how human psychology is an important factor in real estate that technology must address. The document outlines risks for real estate technology companies, including hubris from raising a lot of funding, not properly addressing human psychology, and claiming to be more efficient without proven results.
This document discusses different perspectives on housing policy and affordable housing. It examines the view that housing prices are determined by supply and demand versus the view that prices are determined by profits. It also discusses debates around whether more housing subsidies or more overall housing production is needed to address affordability. Non-profit housing models are described as well as challenges around development costs and unit sizes. The document questions whether current policies aimed at "investing" in affordable housing through subsidies and taxes are actually driving up overall housing prices. It argues for a more market-based approach focused on deregulation and streamlining to increase overall housing supply.
High cash flowing properties with a plethora of steps taken to mitigate many of the risks typically associated with real estate investments. Ideal for Retirement accounts as an alternative to CD\'s at a much higher rate of return.
This document discusses the concept of a housing crisis and argues that:
1) There is no clear quantitative measure of a "housing crisis" and current measures are inadequate.
2) Building subsidized housing units will not solve the underlying problem of high housing prices caused by inadequate supply due to excessive regulation.
3) To lower prices and help those in poverty struggling with rent, the solution is to reduce regulations restricting housing development to increase supply, and provide direct cash assistance to pay rent for those in need.
Ohio Realtors Legislative Conference, April 30, 2019Roger Valdez
This document discusses housing policies and the debate around evictions. It summarizes data showing that evictions are relatively rare in Seattle and other cities, with less than 1% of rental households being evicted. While advocates claim evictions are a major cause of homelessness, data shows only 11% of homeless individuals cited eviction as the primary reason for their homelessness. The document argues for policies that increase housing supply to reduce costs and notes that evictions are sometimes necessary, not a business model for landlords. It calls for using data-driven narratives and solutions that incentivize construction and provide direct rent assistance.
This document outlines a strategy to advocate for pro-housing policies and shift the narrative around housing issues. It recommends:
1) Responding to claims about housing crises with data to show issues may not be as severe as claimed and establish a research center to provide accurate data.
2) Sharing proposals to increase affordable housing supply through market-based solutions like rent subsidies rather than building more subsidized units.
3) Conducting research to understand why people believe housing should be a right and not a commodity in order to change minds and support policies enabling more abundant market-rate housing.
The overall goal is to "take back the commanding heights" of the housing debate by providing counterarguments and market
100907 future of london breakast seminarjelutharas
The document discusses a seminar on funding affordable housing in London. It summarizes two alternative strategies for developing affordable housing with low or no government grants: developing homes for market renting and expanding intermediate renting. Market renting could involve housing associations developing homes for private rent, but may not work in all areas and could lead to segregated developments. Intermediate renting has so far been used temporarily but may have opportunities in some local markets with the expectation of eventual home ownership. The seminar will hear from panel members on how intermediate housing fits with overall goals.
The document discusses several key factors that influence real estate market values, including demographics, interest rates, the overall economy, and government policies/subsidies. It then examines these factors in more detail and provides examples of how they impact residential, retail, industrial, and commercial real estate values. Location, price, amenities, and property condition are identified as particularly important determinants of industrial and commercial property marketability.
iTitleTransfer Announces better faster and less expensive way to safely and reliably transfer real estate ownership, pursuant to a Standard & Purchase & Sale Agreement
iTitleTransfer Introduces Anti-Monopoly and Pro-Costumer Choice "Alternative to Title Insurance" for a Third of the Closing Cost, Authorized by Fannie Mae and Freddie Mac, utilizing Real Estate Attorney Opinion Letters.
Things to consider if you are selling your house:
1. Wait until spring if you want higher prices, but this spring may be different due to a large increase in foreclosures flooding the market which could lower prices.
2. Experts predict housing prices will drop 5-7% in the next few months due to the high level of shadow inventory (homes not yet on the market but will be through foreclosures).
3. Renting your home instead of selling may bring in income but comes with significant expenses and responsibilities as a landlord that require preparation.
This document analyzes the economic impacts of rent control in San Francisco. It discusses how the 1979 Rent Ordinance was intended to address a housing crisis and ensure affordable rents while allowing fair profits for landlords. However, rent control has unintended negative effects like reduced maintenance and housing supply. It also benefits long-term renters over new residents and can decrease socioeconomic diversity. The policy still exists because renters, who make up the voter majority, support protections from large rent increases.
This document summarizes a paper examining the economic impacts of San Francisco's rent control ordinance. It discusses the rationale for rent control being to promote equity and prevent low-income residents from being priced out of the city. However, it also notes potential negative impacts, such as reduced housing supply as landlords have less incentive to maintain properties or allow turnover. While rent control aims to promote diversity, it may paradoxically decrease diversity by restricting supply and encouraging illegal sublets. The effects of rent control are complex with arguments on both sides.
The document discusses several elements of clear thinking about economic progress and the role of government. It argues that while government can promote progress by protecting rights and providing public goods, political allocation of resources is less efficient than market allocation. Special interest groups will use the democratic political process to benefit themselves at the expense of taxpayers. Unless constrained, legislators will run deficits and overspend. Government slows progress when it favors some groups over others. The net gain to recipients of government transfers is often less than the amount received due to unintended consequences. Central planning replaces efficient markets with inefficient politics. Competition is important for improving government as well as markets. Constitutional rules are needed to align political and economic incentives to promote progress.
New Lobbying Tool Could Tilt Property Owners in Favor of Housing DevelopmentEdward Segal, CAE
A new tool called Tax Increment Local Transfers (TILTs) has been proposed to help address opposition to affordable housing development. TILTs would provide temporary property tax rebates to local property owners, funded by the new tax revenue generated by the housing development. The rebates are intended to incentivize property owners to not oppose affordable housing projects. While not a perfect solution, TILTs could help tip the balance in favor of affordable housing by reducing neighborhood opposition. Real estate groups should consider advocating for local governments to adopt TILTs as a way to help solve the shortage of affordable housing in California.
The document discusses a proposed decentralized real estate platform called DecentRE PX that aims to disrupt the traditional multiple listing service (MLS) model. It notes that the MLS system is centralized and controlled by gatekeepers, leading to higher costs and inefficiencies for buyers and sellers. DecentRE PX would create an open, transparent and permissionless real estate marketplace built on blockchain technology. This would allow any homeowner to list properties and anyone to search and bid on listings. All offers would be recorded on-chain for full transparency. The goal is to bring more efficiency, fairness and innovation to the real estate industry through decentralization.
The document discusses the economics of drug prohibition. It outlines how prohibition creates black markets that are risky and violent due to lack of legal protections. This attracts suppliers with promises of high profits who will do anything to protect their monopoly. Customers are disadvantaged with no recourse, while law enforcement focuses on low-level arrests due to perverse incentives. Vast sums are spent on enforcement rather than treatment. Legalization would end the black market and generate significant cost savings.
Indiana University Essay Question 2016. Critical essay: Indiana university su...Donna Baun
The document discusses the challenges of essay writing and introduces the essay writing assistance service HelpWriting.net. It explains that essay writing requires skills in research, organization, and formatting while meeting deadlines, which can be overwhelming. HelpWriting.net aims to help individuals overcome these challenges by providing reliable, timely essays written by subject experts while ensuring privacy and quality.
This document provides advice and information for homeowners considering selling their house. It contains the following key points:
1. The housing market is recovering, but sales are increasing faster than prices. Prices may continue softening through 2012 as foreclosures enter the market.
2. Sellers have a limited window of opportunity to sell for a higher price before renewed downward pressure on prices in the second half of 2012 from delayed foreclosures hitting the market.
3. Paying a full real estate commission is worthwhile because agents can expertly guide sellers through today's complex market and negotiate the best deal. Cutting commissions may result in less experienced representation.
The document discusses the housing bubble and its causes. It argues that loose monetary policy and government policies promoting homeownership led to a misallocation of resources and artificial inflation of housing prices. This created a bubble that has now burst, leading to an economic recession. In the long run, there is a concern that the government failures that caused the crisis will not be admitted and more power will be given to the same mechanisms that caused the problems.
High cash flowing properties with a plethora of steps taken to mitigate many of the risks typically associated with real estate investments. Ideal for Retirement accounts as an alternative to CD\'s at a much higher rate of return.
This document discusses the concept of a housing crisis and argues that:
1) There is no clear quantitative measure of a "housing crisis" and current measures are inadequate.
2) Building subsidized housing units will not solve the underlying problem of high housing prices caused by inadequate supply due to excessive regulation.
3) To lower prices and help those in poverty struggling with rent, the solution is to reduce regulations restricting housing development to increase supply, and provide direct cash assistance to pay rent for those in need.
Ohio Realtors Legislative Conference, April 30, 2019Roger Valdez
This document discusses housing policies and the debate around evictions. It summarizes data showing that evictions are relatively rare in Seattle and other cities, with less than 1% of rental households being evicted. While advocates claim evictions are a major cause of homelessness, data shows only 11% of homeless individuals cited eviction as the primary reason for their homelessness. The document argues for policies that increase housing supply to reduce costs and notes that evictions are sometimes necessary, not a business model for landlords. It calls for using data-driven narratives and solutions that incentivize construction and provide direct rent assistance.
This document outlines a strategy to advocate for pro-housing policies and shift the narrative around housing issues. It recommends:
1) Responding to claims about housing crises with data to show issues may not be as severe as claimed and establish a research center to provide accurate data.
2) Sharing proposals to increase affordable housing supply through market-based solutions like rent subsidies rather than building more subsidized units.
3) Conducting research to understand why people believe housing should be a right and not a commodity in order to change minds and support policies enabling more abundant market-rate housing.
The overall goal is to "take back the commanding heights" of the housing debate by providing counterarguments and market
100907 future of london breakast seminarjelutharas
The document discusses a seminar on funding affordable housing in London. It summarizes two alternative strategies for developing affordable housing with low or no government grants: developing homes for market renting and expanding intermediate renting. Market renting could involve housing associations developing homes for private rent, but may not work in all areas and could lead to segregated developments. Intermediate renting has so far been used temporarily but may have opportunities in some local markets with the expectation of eventual home ownership. The seminar will hear from panel members on how intermediate housing fits with overall goals.
The document discusses several key factors that influence real estate market values, including demographics, interest rates, the overall economy, and government policies/subsidies. It then examines these factors in more detail and provides examples of how they impact residential, retail, industrial, and commercial real estate values. Location, price, amenities, and property condition are identified as particularly important determinants of industrial and commercial property marketability.
iTitleTransfer Announces better faster and less expensive way to safely and reliably transfer real estate ownership, pursuant to a Standard & Purchase & Sale Agreement
iTitleTransfer Introduces Anti-Monopoly and Pro-Costumer Choice "Alternative to Title Insurance" for a Third of the Closing Cost, Authorized by Fannie Mae and Freddie Mac, utilizing Real Estate Attorney Opinion Letters.
Things to consider if you are selling your house:
1. Wait until spring if you want higher prices, but this spring may be different due to a large increase in foreclosures flooding the market which could lower prices.
2. Experts predict housing prices will drop 5-7% in the next few months due to the high level of shadow inventory (homes not yet on the market but will be through foreclosures).
3. Renting your home instead of selling may bring in income but comes with significant expenses and responsibilities as a landlord that require preparation.
This document analyzes the economic impacts of rent control in San Francisco. It discusses how the 1979 Rent Ordinance was intended to address a housing crisis and ensure affordable rents while allowing fair profits for landlords. However, rent control has unintended negative effects like reduced maintenance and housing supply. It also benefits long-term renters over new residents and can decrease socioeconomic diversity. The policy still exists because renters, who make up the voter majority, support protections from large rent increases.
This document summarizes a paper examining the economic impacts of San Francisco's rent control ordinance. It discusses the rationale for rent control being to promote equity and prevent low-income residents from being priced out of the city. However, it also notes potential negative impacts, such as reduced housing supply as landlords have less incentive to maintain properties or allow turnover. While rent control aims to promote diversity, it may paradoxically decrease diversity by restricting supply and encouraging illegal sublets. The effects of rent control are complex with arguments on both sides.
The document discusses several elements of clear thinking about economic progress and the role of government. It argues that while government can promote progress by protecting rights and providing public goods, political allocation of resources is less efficient than market allocation. Special interest groups will use the democratic political process to benefit themselves at the expense of taxpayers. Unless constrained, legislators will run deficits and overspend. Government slows progress when it favors some groups over others. The net gain to recipients of government transfers is often less than the amount received due to unintended consequences. Central planning replaces efficient markets with inefficient politics. Competition is important for improving government as well as markets. Constitutional rules are needed to align political and economic incentives to promote progress.
New Lobbying Tool Could Tilt Property Owners in Favor of Housing DevelopmentEdward Segal, CAE
A new tool called Tax Increment Local Transfers (TILTs) has been proposed to help address opposition to affordable housing development. TILTs would provide temporary property tax rebates to local property owners, funded by the new tax revenue generated by the housing development. The rebates are intended to incentivize property owners to not oppose affordable housing projects. While not a perfect solution, TILTs could help tip the balance in favor of affordable housing by reducing neighborhood opposition. Real estate groups should consider advocating for local governments to adopt TILTs as a way to help solve the shortage of affordable housing in California.
The document discusses a proposed decentralized real estate platform called DecentRE PX that aims to disrupt the traditional multiple listing service (MLS) model. It notes that the MLS system is centralized and controlled by gatekeepers, leading to higher costs and inefficiencies for buyers and sellers. DecentRE PX would create an open, transparent and permissionless real estate marketplace built on blockchain technology. This would allow any homeowner to list properties and anyone to search and bid on listings. All offers would be recorded on-chain for full transparency. The goal is to bring more efficiency, fairness and innovation to the real estate industry through decentralization.
The document discusses the economics of drug prohibition. It outlines how prohibition creates black markets that are risky and violent due to lack of legal protections. This attracts suppliers with promises of high profits who will do anything to protect their monopoly. Customers are disadvantaged with no recourse, while law enforcement focuses on low-level arrests due to perverse incentives. Vast sums are spent on enforcement rather than treatment. Legalization would end the black market and generate significant cost savings.
Indiana University Essay Question 2016. Critical essay: Indiana university su...Donna Baun
The document discusses the challenges of essay writing and introduces the essay writing assistance service HelpWriting.net. It explains that essay writing requires skills in research, organization, and formatting while meeting deadlines, which can be overwhelming. HelpWriting.net aims to help individuals overcome these challenges by providing reliable, timely essays written by subject experts while ensuring privacy and quality.
This document provides advice and information for homeowners considering selling their house. It contains the following key points:
1. The housing market is recovering, but sales are increasing faster than prices. Prices may continue softening through 2012 as foreclosures enter the market.
2. Sellers have a limited window of opportunity to sell for a higher price before renewed downward pressure on prices in the second half of 2012 from delayed foreclosures hitting the market.
3. Paying a full real estate commission is worthwhile because agents can expertly guide sellers through today's complex market and negotiate the best deal. Cutting commissions may result in less experienced representation.
The document discusses the housing bubble and its causes. It argues that loose monetary policy and government policies promoting homeownership led to a misallocation of resources and artificial inflation of housing prices. This created a bubble that has now burst, leading to an economic recession. In the long run, there is a concern that the government failures that caused the crisis will not be admitted and more power will be given to the same mechanisms that caused the problems.
Similar to Chicago Association of Realtors Power Point (20)
When it comes to purchasing a house in Indore, you'll often find yourself facing a crucial decision: should you pay in cash or opt for financing?
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India’s expressway network is a testament to the nation’s dedication to improving infrastructure and connectivity. These high-speed corridors facilitate seamless travel across vast distances, reducing travel time and fuel consumption
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1. The Emperor, The King, and The
Councilwoman
The Story of Rent Control
2. Seattle For Growth
Seattle For Growth is a 501(c)4 non-profit organization created in
2013 by builders and developers to advocate for more housing.
We are for creating more housing of all types, in all
neighborhoods, for all levels of income. We are for jobs. We are
for opportunity. We are for change. We are for innovation. We
are for progress. We are for growth!
17. What is rent control?
• Rent control is a price control that is an anti-
inflationary measure.
• When prices go up, some people want to
impose restrictions so that they don’t.
• The underlying assumption behind price
controls is that prices are set by individuals
acting out of self-interest and greed.
• Rent control proposals, therefore, deny the
proposition that prices are a quantitative
indicator of supply and demand.
18. Diocletian
Roman Emperor
284 -305 AD
Because of
those that “seek
private gain and
are bent upon
ruinous
percentages of
profit to their
avarice, ye men
of our provinces,
regard for
common
humanity impels
us to set a
limit…if anyone
have acted with
boldness against
the letter of this
statute, he shall
be subjected to
capital
punishment. “
19. Cnut the Great
King of England 1016–1035 AD
“Let all men know how empty and worthless is the power of kings.”
20. Kshama Sawant
Seattle City
Councilmember
2014 – Present
“Rent control is merely a
way of outlawing price
gouging and preventing
landlords from profiting off
the increase in property
values driven by real estate
speculation and lack of
supply. It’s essential to
address the existing power
imbalance in which
landlords and developers
have all the control”
21. Why rent control doesn’t work?
The problems with rent control are, “among the best-understood issues in all
of economics, and – among economists, anyway – one of the least
controversial” – Paul Krugman
• A restrictive price ceiling reduces the supply of property to the market.
• When prices are capped, people have less incentive to fix up and rent out,
or to build rental property.
• Slower supply growth exacerbates the price crunch.
• Those landlords who do rent out their properties might not bother to
maintain them, because when supply and turnover in the market are
limited by rent caps, landlords have little incentive to compete to attract
tenants.
• Tenants may stay in properties longer than makes sense.
• Evidence shows that those living in rent-controlled flats in New York tend
to have higher median incomes than those who rent market-rate
apartments. Wealthier households are better at tracking down and secure
rent-controlled properties.
From the Economist (2015)
22.
23.
24. Rent control in Washington State?
Current State law, RCW 35.21.830, prohibits local government from imposing, ”Controls on rent
for residential structures.’ In order for local governments to pass rent control ordinances, the
State Legislature would have to repeal or rewrite the law.
25. How Washington gets rent control
1. Donald Trump motivates lots of people to vote against him,
and they vote for Democrats all the way down the ballot
2. The previously conservative Senate is now under the control
of liberal Democrats
3. Seattle Councilmembers Herbold and Sawant push a repeal
of preemption
4. The Senate goes along with the repeal
5. By this time next year, the Seattle City Council is debating
what kind of rent control ordinance it will pass by the end of
2019
6. With 2019 being an election year for Mayor and some
Councilmembers there is little debate about why rent
control is a bad idea, instead everyone pushes for their
favorite version
7. Rent control passes in the fall of 2019 and is law by 2020
26. Commercial rent control in Washington State is not clearly pre-empted by State law.
Councilmember Sawant has proposed commercial rent control in Seattle in the name of
protecting small business. There is no indication that there is any opposition by the Mayor or
Council to this idea. High rents for commercial spaces are a function of supply and demand, and
the Council acted several years ago to prohibit small commercial spaces in low-rise zones. Their
actions made the situation worse and this proposal would make it worse still
27. Could it get any worse? Meet Mandatory Inclusionary Zoning (MIZ).
The Mayor and City Council in Seattle are in the process of implementing a policy that would
mandate a fee on all new residential development by the square foot or the inclusion of a
percentage of set aside, rent restricted units.
• Infeasible – The policy will render some projects infeasible because of additional costs
• Illegal – Is a clear violation of the plain language in RCW 82.02.020 prohibiting fees
• Inflationary – The only way this policy will work is when rising rents absorb additional costs
28. Ludwig Erhard
Minister of Economics under Chancellor Konrad
Adenauer from 1949 to 1963
General Lucius Clay: What have you done?
You’ve changed the allied price controls.
Ludwig Erhard: Herr General, I haven’t changed
them, I’ve abolished them!
Clay: My advisors tell me it’s a big mistake.
Erhard: Herr General, my advisors tell me the
same thing!
“It started the markets working. With free
prices instead of nothing being in the windows
of the shops everything started to come up.
And that began the German economic
miracle.”
--Milton Freidman
From the PBS series “The Commanding
Heights.”
29. What’s the right thing to do?
• Stay principled – More housing of all types, all
over the city, and for all levels of income are
what we need to lower prices;
• Stay engaged – the Mayor and Council aren’t
listening, but being on the record matters;
• Support each other – your associations and
organizations matter; and
• Offer a positive alternative.
30. What’s needed?
• More housing supply and diversity
• Tax credit and incentive programs
• A better definition of the problem
• Direct cash subsidies for rent
• Create a risk pool for harder to house renters
• Avoid subsidized capital construction
• Inventory older, below market apartments
• Low-interest loans to stop deferred maintenance
One item to note is that although rates are now cresting $38 LSF, compared to San Francisco, these rates are very reasonable. San Francisco Class A office rates are nearing $70 LSF.
Diocletian (/ˌdaɪ.əˈkliːʃən/; Latin: Gaius Aurelius Valerius Diocletianus Augustus), born Diocles (244–311),[3][5] was a Roman emperor from 284 to 305.
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