Hans Rasmussen de los Rios

For 45 years, Berkeley built virtually no new housing. By the mid-2010s, it was the most expensive college town in America. Shortly thereafter, YIMBYs took over and kicked off a building boom. Today, nominal rents are below 2018 rates—remarkable progress on affordability.

@benmaritz @asher_971 "Yes (I want startups) in my backyard" next frontier of YIMBY YSIMBY

@asher_971 I do not think that many of our leaders or voters would want it to be based here

It’s a fair question though… will the next one of these companies get started here?

I'm a developer who has done condo projects in other states. The reason: Lack of adequate pre-sale deposits as gated by state law. Pre-sales drive the condo business. No investor or lender will fund a condo project without substantial, forfeit-able pre-sale deposits if a buyer fails to close. Takes 3-4 years from project inception to completion and unit closings. The market can change over that period of time. Prices can decline due to economic cycles and other. Developers/investors/lenders need to know that if prices decline during the development/construction period all their pre-sale buyers can't simply walk away. A substantial, forfeit-able pre-sale deposit inventivizes a buyer to still close, and sufficiently reduces the developer's cost-basis on units when a buyer fails to close States that build a lot condos allow for large deposits. Florida builds a ton of condos for instance and has no state law limiting deposits. Deposits are determined by the market. 20-30% pre-sale deposits are the norm in FL. (Going to 6% isn't going to cut it.) I know everyone is celebrating construction defect reform, and well done Buffy. But it is NOT the gating issue for condo development. Pre-sale deposits is the issue.

Werner Herzog solved the Hormuz crisis ~45 years ago

Seattle Comp Plan Middle Housing updates pass council 8-0 Apartments will have 40' height and 2.0 FAR throughout all former single family zoning Boldest upzone of a major city in USA?

@GoodGuyGuaranty Covid really put the nail in that coffin for us. Using those machines has a certain nostalgic feel I miss, like playing an arcade game. But the department found they preferred as little in-person contact as possible (peak Seattle social dynamic)

@jHansRas Genuinely incredible. When older plans are on microfilm, we have to use the microfilm machine ourselves (at their office), and then - of course - pay by the page for scans. Good for Seattle.

One of Seattle’s low key gems of government efficiency is our microfilm archives. Free PDF of any building record delivered usually within ~2 hrs.

@benmaritz V good point & tracks w/ city’s political history. I wonder if the tax needs to be ~7.5-10% of hard costs to produce that alignment. W/ jumpstart & levy disproportionately funding AH going forward it seems the calibration deserves review (but what’s new) $10k Flat fee/unit

What this article and lawsuit miss is that the MHA tax, which goes to politically connected non profits, makes those non profits very supportive of new market housing. This makes Seattle a much more YIMBY city than places like SF.

Seattle?

@ChrisWPhoto Pending council approval, but yeah that seems to be direction we’re heading and I’m stoked

@jHansRas And when it does come back it’s only outside of urban centers and for buildings with 150+ units. So… basically dead 👏👏👏👏

Seattle design review moratorium next 6 months. Let’s cook

The original Abundance pill

@buildhomez Creating an Office of Renters Rights is a great way to freeze rental production

A bet on a Katie Wilson mayoralty for yimby reasons is a bet that she will fail to set a 5% rent control, because that would be much worse than anything Harrell has NIMBYd. I don’t think she’ll be able to

I guess what I would actually say is that the US housing sector is about 75% social housing. It's just that the primary vehicle for that is the 30-year fixed, which is such a successful public enterprise that most people think it's the free market just working.

@benmaritz Piles in till? Thats a first. What was city’s rationale?

Site visit at #AcerHoise this morning. First “pin piles” are in — though at 12” diameter, they look more like battering rams than pins. Also not recommended by our geotech (glacial till = solid ground), but required by the City. When the big one hits, this is where you want to be.

In Seder’s view housing as a commodity is a problem. But what are our alternatives? It’s either a luxury good, public utility, or scarce trading sardine. A commodity seems like the best option! He thinks a cabal is cornering the Honda Civic market so we should punish carmakers.

Geotechnical / soil reports are scandalously poetic. Words inducing this much imagination are illegal in many southern states. Anyone have recommended books describing geophysical events?

Big Dairy has no problem with Almost BUTTER but they are ready to bear arms about Almond MILK. why?

last time you spent extra $$ on a tool you love? Felt "guilty" my keyboard is ~3x a basic one, but can pair to 3 devices. Seamless switches between between computer & phone. An epic sword against the incessant swarm of texts. can't recommend enough