Threatened By Rising Housing Prices, Some SeaTac Homeowners Fight Back
SeaTac housing isn’t cheap. The median rent in the city surrounding the Seattle-Tacoma airport is more than $2,000 a month, according to one real estate website. That’s in King County, where median home prices are around $625,000.
This makes mobile homes some of the few affordable housing options in the area, Marketplace reports.
The land those mobile homes are on could be worth a lot more to the owners if it was developed into apartment complexes or hotels, leaving families — about 9,000 households — at risk of homelessness. But some mobile home owners have found an option that could let them stay.
They’re banding together to buy the land their homes are on.
Residents of Duvall Riverside Village, a mobile home park in SeaTac, formed a non-profit organization to collectively buy their land. They now pay dues to the non-profit, and run the park along with a board of directors, allowing homeowners to make their own financial decisions about park management.
Last year, investors accounted for 1 in 5 starter-priced homes, according to data released by CoreLogic on Thursday. The rate of investor purchases of starter homes has been rising and has nearly doubled since 1999. Continue Reading 1st-Time Homebuyers Are Getting Squeezed Out By Investors
Two months into this year, researchers are looking back at what changed on the housing front in 2018. According to the latest numbers from the Washington Center for Real Estate Research at the University of Washington, the statewide vacancy rate for all apartments is 4.26 percent. That’s better than it was last fall, but not by much. Continue Reading Washington’s Rental Housing Market Is Looking Better, Still Tight In Rural Areas
Microsoft is investing $500 million to help develop affordable housing and address homelessness in the Seattle area as the growth of tech companies in the region continues to flood the real estate market with high-salaried workers, leaving many other people behind. Continue Reading Microsoft Pledges $500 Million To Address Homelessness And Affordable Housing In Seattle Area