Positive Future #364 (Feature photo – Seattle Urban Landscape – CCA SA 3.0 Unported)
Affordable Housing has become a problem for a number of reasons to include:
- Interest rates at a level that stunts development.
- Population growth
- Higher income households bidding up the price
- Economic recessions that dampen building
In a surprising development, Microsoft (headquartered in Seattle) is committing $475 million to develop below market price housing in King County. Through a combination of subsidizing some housing directly and working through government programs for low-income housing, the hope is that “affordability” will come down to more people.
You can read the full story here on Curbed: