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IN DIRE NEED OF GENERATIONAL RESPONSE TO HOUSING SHORTFALL

Will Springer Realtor

“There is a strong desire for homeownership across this country, but the lack of supply is preventing too many Americans from achieving that dream,” said Lawrence Yun, chief economist for the National Association of Realtors® (NAR). Housing affordability decreased in 45 of the 50 states from 2012 to 2019. POTENTIAL TAX SAVINGS.

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FINDING THE KEY TO UNLOCK ‘STUCK’ HOMEOWNERSHIP RATE

Will Springer Realtor

The pandemic has made attaining ownership more difficult, particularly in housing-starved Seattle (pictured) and across King County where the number of homes on the market (Active listings) has trended lower for most of the past decade-plus. That ranks the Emerald City seventh among the top 50 most expensive metros for real estate taxes.

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CAN HOUSING SHORTAGE CATCH UP TO EASTSIDE DEMAND?

Will Springer Realtor

Between 2011 and 2019, the median household income in our area increased by about 34% but housing prices jumped 78%. Microsoft has committed $750M since 2019 to help support the creation of more affordable homes in Seattle metro. with annual property taxes at, gulp! , $233,383! Total interior space is priced at $4830/sq.

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HOME BUYERS FACING ‘TRIPLE-WHAMMY’ EFFECT

Will Springer Realtor

The House version, HB 1782 , is backed by developer and Realtor® lobbyists, Habitat for Humanity and environmental groups, according to The Seattle Times. Among other bills in the works, as of this writing: House Bill 1908 relates to the conversion of surplus public property to affordable housing. home buyers. from the end of 2020. >>

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SEATTLE ‘WALKING’ TOWARDS URBAN CONNECTEDNESS

Will Springer Realtor

It has been discussed in this newsletter the sharp decline in Seattle office occupancy; most recent stats show weekday worker foot traffic in downtown at 55% of July 2019 traffic, a figure that will likely increase – but by how much more? New owners here spend an average of $232.5K fewer new listings, the number of sales rose 1.7%

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