Liberals love to complain about the rising cost of living in Seattle, particularly about high rental prices. But, true to the irrational minds of the elected officials in the city, they also love to raise property taxes and complain about developers.
A new report from Dupre + Scott confirms just how irrational the liberals’ attitude is in the real world.
The news is obvious to anyone who knows anything about basic economics, but the report confirms that new development in Seattle is slowing rent growth. After all, developers are increasing the housing supply and thus stabilizing costs.
Socialist Seattle City Councilmember Kshama Sawant, are you paying attention?
Clearly, Sawant’s ironic degree in economics has done little to help her understand the subject. It’s hard to forget the ignorance Sawant displayed concerning the creation of affordable housing options when she questioned city consultant Kirk Kreagar during a hearing.
Sawant tried to take Kreagar to task on providing tax rebates to private developers who build housing complexes affordable to lower-middle-class residents. Kreagar attempted to explain to Sawant how Seattle’s temporary property tax exemption to developers who keep the cost of a certain number of units low promotes affordable housing. But, his explanation fell on deaf ears.
Ladies and gentlemen, the irrationality of Seattle liberals.