By AWB President Kris Johnson
We hear about skyrocketing home prices in places like Seattle, San Francisco, and New York and shake our heads. Modest three-bedroom ramblers going for $1 million or more. Hopeful home-buyers engaging in bidding wars, sometimes buying houses sight-unseen, or skipping inspections to ensure someone else doesn't close the deal first.
But the lack of housing of all types is really a nationwide crisis, according to U.S. Rep. Denny Heck. Heck, D-Wash., was one of the speakers at a statewide Housing Forum put on last month by a coalition of 10 organizations including the Association of Washington Business (AWB).
The country is at least 5 million homes short of what's needed, Heck said, and the case could be made the shortfall is more like 7 million. "Supply is not keeping up with demand," he said. It only gets worse as Washington is expected to add 1.5 million people by 2040...
For employers, the availability of high-quality, affordable housing is a critical factor in the ability to attract and retain skilled workers. For employees, finding housing within the same communities as their jobs mean shorter commutes, more time spent with families and better work-life balance. And for communities, all these elements contribute to the quality of place we all desire.