Agree! Here's a better data point, where the Seattle mayor says as much (while announcing $100 million investment in affordable housing because there is so little).
“Too many long-time residents are getting locked out and pushed out of Seattle,” Durkan said in a statement.
That's why it's not the best idea to use subsidies to lure one of the largest tech companies in the world to your town. Available housing declines, it takes far too long in the feedback cycle for new housing to be built, and you've made the city marginally worse for anyone who isn't a tech worker.
> That's why it's not the best idea to use subsidies to lure one of the largest tech companies in the world to your town. Available housing declines, it takes far too long in the feedback cycle for new housing to be built, and you've made the city marginally worse for anyone who isn't a tech worker.
On the other hand, your city gets a ton more wealthy and existing homeowners essentially win the lottery.
That's also a poor argument for turning away businesses. The problem appears to be not allowing more housing sooner, not that you're helping provide tens of thousands of new jobs. Plus, there's tons of affordable housing a very short drive from Seattle. You should really do more/better research.
“Too many long-time residents are getting locked out and pushed out of Seattle,” Durkan said in a statement.
https://www.seattletimes.com/seattle-news/politics/seattle-t...
That's why it's not the best idea to use subsidies to lure one of the largest tech companies in the world to your town. Available housing declines, it takes far too long in the feedback cycle for new housing to be built, and you've made the city marginally worse for anyone who isn't a tech worker.