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Washington State Lawmakers Vote to Limit Rent Increases
Washington State Lawmakers Vote to Limit Rent Increases

New York Times

time27-04-2025

  • Business
  • New York Times

Washington State Lawmakers Vote to Limit Rent Increases

After a protracted battle, Washington State lawmakers voted Sunday to limit annual residential rent increases to no more than 10 percent, positioning the state to become the third in the country to adopt statewide rent regulations. Among the key provisions of House Bill 1217: Between 2001 and 2023, median residential rents in Washington State rose by 43 percent, adjusted for inflation, outpacing the 26 percent rise in renters' incomes over the same period, according to the Center on Budget and Policy Priorities, a national research group. And while there is broad consensus that more housing needs to be built, supporters of the caps say they can offer short-term predictability and protections for tenants who have been forced to move because of steep price increases. The issue has long been a priority for Democrats, and the Legislature nearly passed a similar bill in 2024. But this year, with a more turbulent economy, supporters say the problem has never been more urgent. 'At a time when people worry whether they'll lose their federal benefits, we can help assure them that here in Washington you won't face an excessive rent hike,' said Emily Alvarado, a Democratic state senator and one of the bill's sponsors, during a floor debate Friday night. Most economists have historically been skeptical of rent control, saying it does more harm than good. But that has started to change somewhat in recent years. In Washington, opponents say rent regulations would discourage new development and reduce the availability of rental homes. And for years, Republicans, joined by moderate Democrats, have scuttled various proposals. But progressives gained more clout after last year's elections and have pushed an agenda that also includes tax increases and spending cuts. Andrew Barkis, a Republican state representative, said in an interview that the new bill was 'driven by ideology.' He said that an earlier version, which called for a 10 percent cap, plus inflation, and exempted most single-family home rentals that were not owned by a corporation, was better. That version had cleared the Senate. 'You put an artificial cap on this, I can guarantee you that every single rent is going to go up,' Mr. Barkis said Rent regulations have typically been embraced by municipalities, not states. More than 300 local governments regulate rents, including New York City, Los Angeles and San Francisco. When states get involved, it has often been to prevent local jurisdictions from enacting rent regulations. More than 30 states have done that — including Washington, which blocked local rent regulations in 1981, when Republicans last controlled the governor's office and Legislature. The new bill — which survived some last-minute procedural drama and was passed on Sunday, the last day of the legislative calendar — would not lift that ban. Instead, it is aimed at protecting tenants throughout the state, including those in towns that may be unable or unwilling to take their own action. Until now, California and Oregon had been the only states to adopt statewide rent regulations, both passed in 2019. The cap is 7 percent plus the inflation rate in Oregon, and 5 percent plus inflation in California; both states set a maximum of 10 percent. But there are efforts in both states to lower those caps. The bill heads to Gov. Bob Ferguson, a Democrat who took office this year. While Mr. Ferguson has not stated his intentions, many legislators and lobbyists anticipate he will sign the legislation. It would take effect immediately.

Thurston County median home price is still very high. Could this new legislation help?
Thurston County median home price is still very high. Could this new legislation help?

Yahoo

time09-03-2025

  • Business
  • Yahoo

Thurston County median home price is still very high. Could this new legislation help?

The median price of a single-family home in Thurston County rose to $530,000 last month, up 6% from February 2024, according to new data released this week by the Northwest Multiple Listing Service. That's probably welcome news for anyone interested in selling, but will likely elicit another round of groans from prospective buyers — especially first-time buyers wondering if they will ever be able to afford a home here. House Bill 1096, which was passed by the state House on Thursday and is now on its way to the Senate, aims to bring relief to the situation. If ultimately signed into law, it seeks to increase the supply of missing middle-type homes — accessory dwelling units (ADUs), duplexes and triplexes — as well as single-family homes with a simplified lot-splitting process. 'By cutting through unnecessary red tape, the bill would help homeowners build new housing units faster and more affordably while still meeting zoning requirements and infrastructure needs like water and sewer access,' said the bill's primary sponsor, state Rep. Andrew Barkis, R-Olympia, in a statement. Thurston County has been mired in a housing market that favors sellers because the supply of homes is so low, according to Northwest MLS data. The county had about 400 active listings and 200 sales last month, which equates to two month's supply of inventory. A housing market that doesn't favor either sellers or buyers is thought to have four to six months' worth of inventory. Remember those days? Perhaps not. Mitch Dietz, the owner of Coldwell Banker Evergreen Olympic Realty, said the county last had about 1,000 active listings in one month 10 years ago. A lot has happened since: home building slowed, then demand and housing prices soared when mortgage interest rates hit record lows of 3% during and after the pandemic. Interest rates are now closer to 7%. So where would the lot-splitting idea work best? Barkis said the city of Lacey makes for a good example — particularly older, central Lacey where the homes are typically smaller and the lots larger. For example, a number of homes on 13th Avenue Southeast, near Brooks Park, occupy lots that are one-third of an acre. Here are some of the lot-splitting details, according to a House Bill report about the legislation. ▪ The application process for a lot split would only require an administrative decision through which the application is reviewed and approved or denied by the planning director or other designee without a pre-decision public hearing. ▪ Lots that are not buildable include critical areas, shorelines, stormwater retention areas, setbacks and impervious surface areas. ▪ Any lot resulting from a lot split may be divided under other land subdivision processes if the lots meet size requirements. During public testimony on the bill, it won support from the building community but also attracted some environmental concerns, according to a summary of comments from those opposed to it. 'This bill threatens our environment and does not help us achieve affordable housing targets,' the comments read. 'It would allow property owners to sell their backyards while preempting critical area regulations.' ▪ Single-family home sales fell about 1% to 202 units last month from 204 units in February 2024. ▪ Single-family home median price rose 6% to $530,000 from $499,990 over the same period. ▪ Single-family home pending sales fell 13.5% to 255 units from 295 units over the same period. ▪ Condo sales fell to seven units from 14 units over the same period. ▪ Condo median price fell about 20% to $322,000 from $401,950 over the same period. ▪ Condo pending sales were unchanged at 15 units over the same period. Source: Northwest MLS.

What's moving along, and what's not, in the WA Legislature?
What's moving along, and what's not, in the WA Legislature?

Yahoo

time27-02-2025

  • Business
  • Yahoo

What's moving along, and what's not, in the WA Legislature?

OLYMPIA, Wash. - Legislators have until Friday to pass bills out of the fiscal and transportation committees in the chamber they originated from. The deadline comes after last week's cutoff for standard policy bills and with the state's projected multi-billion-dollar shortfall looming large. A number of bills are destined to not become law this year. Proposals on increasing penalties for organized retail theft or eluding police, putting regulations on self-checkout lanes and establishing a committee to redesign the state flag all missed the February 21 deadline for policy bills to remain in play. Local perspective One Republican proposal to use Climate Commitment Act funds to support transportation projects as revenues dwindle never even got a hearing in the House. "I think in this time that we should be having that talk and consideration, before we talk about new revenue to solve this problem within transportation. But the work continues," said state Representative Andrew Barkis (R-Olympia) at a media availability Tuesday. Some of Democratic Governor Bob Ferguson's priorities are on track to clear Friday's deadline for bills with fiscal impacts. Bills on increasing funding for K-12 materials and operating costs, special education and establishing a police hiring grant program are slated for votes in the Senate Ways and Means Committee on Thursday. Though one priority does not appear to be making the cut. Ferguson requested legislation to expand free meals to all school students, with supporters saying free breakfast and lunch are crucial to student success. The bill has not been scheduled for a vote in the House Appropriations Committee. Democratic legislative leaders said Wednesday it is a good idea that just comes at a bad time with the state's budget crunch. What they're saying "If the bill doesn't pass out of House Appropriations on Friday, then it's not passing for the year," House Majority Leader Joe Fitzgibbon (D-Seattle) told reporters. "Given the number of competing demands we have, it's a challenge. But nothing in House Appropriations is dead until after Friday." Democratic leaders said they are aiming to address increased costs associated with current free school meal programs passed in previous legislative sessions. It is important to note bills that do not advance this year are brought back in next year's 60-day session for another shot at making it into law. Additionally, bills that are considered by lawmakers to be "necessary to implement the budget" are not subject to deadlines. Before he was sworn in last month, Ferguson tasked almost all state agencies to shave 6% of their spending to handle the budget shortfall. Though four-year higher education institutions were instructed to cut 3%, with K-12 basic education and public safety facing no budget reductions. The governor will present those budget proposals to reporters Thursday morning. Albert James is a television reporter covering state government as part of the Murrow News Fellowship program – a collaborative effort between news outlets statewide and Washington State University. The Source Information in this story comes from Murrow News Fellow Albert James. Puyallup man killed, family now sending ashes back to Japan: 'That's his final trip' 4 arrested following car jacking, crash, chase in Spanaway, WA 'You steal for a living': Everett antique store confronts accused serial shoplifters 2 bills aimed at improving community safety in WA advance Pirate plunders boat motors from Gig Harbor, WA marina To get the best local news, weather and sports in Seattle for free, sign up for the daily FOX Seattle Newsletter. Download the free FOX LOCAL app for mobile in the Apple App Store or Google Play Store for live Seattle news, top stories, weather updates and more local and national coverage, plus 24/7 streaming coverage from across the nation.

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