The amount of revenue that the City of Seattle expects to raise by taxing short-term rentals. Starting in 2019, hosts on AirBnB and other platforms will be charged $8 per night for renting out a room or $14 for an entire home. Each host will also be limited to operating two short-term rental unit and a permit will be required for each unit. Citing data from AirDNA, the Stranger reports that over 6,500 Seattle homes are currently listed on AirBnB. AirDNA’s data shows that these listings come from 3,748 active hosts, 55% of whom operate multiple properties.
Curbed reports that Mayor Durkin signed off on a plan for bringing Light Rail to Ballard 18 years from now. According to Sound Transit, the Ballard Extension, connecting Market Street to Downtown Seattle via an elevated guideway through Interbay and a new rail-only bridge across the canal, will have 9 stations.
That’s Redfin’s estimate on the increase in roommate households over the past decade, due to declining affordability. According to census data, 8.33M (6.6%) of households consisted of roommates in 2017, versus 6.479M (5.6%) 10 years ago. Redfin also points out that with both house prices and interest rates on the rise, US homeowners’ monthly principal + interest payments increased 13% in 2017. Redfin expects an even higher increase (15-20%) in 2018.
Seattle Time says Seattle’s condo inventory falls far short compared to Boston and Miami, where two-thirds of home available for ownership are condos. In New York and Chicago, the proportions are about half and half. Our condo liability laws are to blame. Looking forward, out of the 75 projects currently under construction, only 3 are condos.