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Center on Wealth & Poverty

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As Region Faces Shortage, Seattle Needs to Preserve its Existing Housing

_{Caitlyn McKenney
December 18, 2024
5
Housing}

According to a 2024 report on housing production from Up For Growth, the metro area encompassing Seattle, Tacoma, and Bellevue is facing a shortage of 71,060 homes. That amounts to 4.2% of the region’s total housing stock. While the production of new homes is vital to closing the gap between supply and demand, so is the preservation of existing housing, especially affordable housing. A recent op-ed in the Seattle Times called on Seattle Mayor Bruce Harrell to suspend the city’s winter eviction moratorium, a law that halts evictions for the nonpayment of rent from December through March every year. The article is authored by Sharon Lee, executive Director of the Low Income Housing Institute (LIHI), and Emily Thompson, a partner at GMD Development. LIHI owns or …