What’s Going On With The Shortage of “Affordable Homes” in Pierce County?

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What’s Going On With The Shortage of “Affordable Homes” in Pierce County? I would call this a spillover effect. Home prices in the greater Seattle/Bellevue area have risen so dramatically these last few years, there isn’t much left to be deemed affordable in those markets. After spending time in traffic congestion most have us have placed a high priority on trying to locate ourselves close to our employment. With the Interstate Five corridor being a huge hub for employment, this has drastically affected home values for those trying to avoid a congested commute.

This has now spilled over into Pierce County. With such a shortage of affordable homes in King County, has forced us to consider a longer commute to afford a home in today’s market. This means spending more time stuck in traffic and pushing us farther away from our employment, which impacts home values up and down the Interstate Five corridor. This obviously affects Pierce County home values.

Real Estate values go up and down based upon demand. We need a larger supply of all price points to slow down appreciation and keep home prices in check. One way to increase supply would be a fast track system of permitting new builds and remodeling permits. The regulatory system is slow and expensive. This is adding to the overall cost of homeownership. Also, an improved freeway system would ease home values by making it easier to live further away from your employment, while enjoying a fast commute. This would also probably ease prices in the city core, as more of us would consider a more rural lifestyle.

Wish we had a magical answer to more affordable homes! The good news is, we are all enjoying a strong economy and the daily treasures of living in the Pacific Northwest.

If you have considered needing Real Estate Services and you are looking for the “Right Agent” we would appreciate your consideration. We can help with Buying, Selling and Property Management. Check us out at www.rjrealestateservices.com

Rick Jusenius

About the Author
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Rick Jusenius

I began my Real Estate career in 1972 right after graduating from High School. Back in the day one could sell Real Estate using a temporary permit from the Department of Licensing and so began my six month experiment. After several years of being a machinist, sales, and a self employed General Contractor, my full time Real Estate career was launched in 1992. Being in a position to have a wealth of support staff, my attention has focused on my main goal of superior client services. We welcome the opportunity to provide you our very best.