Here is the problem with your graph there. Rents have doubled and in some areas more than doubled since 2010. What was available in 2010 for $800/mo. is now getting $1600/mo. That’s an increase of 100%! So don’t put up a graph with a great big upside down bell curve and say “rents have fallen.” How have they fallen? Your own guest/landlord is telling you that he feels he should be able to increase rents 7% each year! Did you hear what he said about mortgages? He slipped when he revealed the fact that he is able to pay off his fixed rate mortgages in 15 years! The last time rents fell in the Western Coastal States were between 2005 and 2008. And in the 15 years since, while his largest expense has remained fixed, not only has his gross rental revenue doubled but now his mortgage has been paid off! And that rental property of his is owned free and clear. How much more of a return on his investment should he be entitled to? Real estate mathematics don’t lie. Talking heads and dubious charts do!

So the big question is, how did we get here? Greed.

I rent from Westlake, my rent has gone up 85% since the moratorium came off. Half of the residents left more than a few had to move into their cars. They are now listing the property for sale at 100% up from their purchase in 2020. Don't worry tho, NOTHING GETS FIXED.

Investors buying all the affordable housing and renting them out for ludicrous amounts that nobody should ever be willing to pay... But, renters end up forced to pay the ludicrous amount of rent because investors keep buying up all these affordable entry level homes leaving the middle class litterally no other options... Something has to give..

Home prices average 12% lower but only a 1% reduction in rent? 1% isn't even worth mentioning. $1500 rent gets dropped to $1485. Oh, how incredible that is!

Taxes on the buildings keep going up, the cost of repairs keeps going up. I find it hard to believe landlords want it.

Once the moratorium was up my lease was also up my rent went from $1,050 all inclusive to $1,300 and then an additional $100 for utilities. I didn't sign the lease so I became a month-to-month tenant. Here just six months ago it went up another $90. I live in a 300 square-foot Studio. Everyone else here that lives in a studio pays $1,300. All-inclusive if that's not retaliation I don't know what is. There's seven units total here, one of them is a one-bedroom the rest are studios. I am fed up!!!

How come they don't talk about property tax it's so high

Amen and thank you for the update and keep holding the line

Yes! Let us reason together!

He is an honest landlord! The rent increase doesn't mean good for all around the economy. I agree with him!

This LL seems very intelligent. A man with integrity. Thats extremely rare this day in age.

Defund exaggerated property tax

They need to do this every where!!!!

It took me awhile to figure what was motivating this landlord to support stabilization. Finally clicked, stabilization is better than rent control as the landlord can set an appropriate rent based on their mortgage, real estate taxes, maintenance and a reasonable profit. By setting predictable increases decent renters are less afraid to rent and this stabilizes the neighborhood. This results in property values that don't decrease to the point landlords have to sell at a loss or just hang onto the property without being able to maintain or improve it. Seems a lot better plan than rent controls like in New York or California.

The greed of landlords is the root of all this. Now that it’s effectively cutting into their profits so now they are on board. Smh

Home prices are crashing too.

I got paid 189.00 on my part time job..I get $13.50... hour.. I think there's something going on.. here ... 🤔🤔🤔🤔🤔

Still ridiculous!!! Not enough!

1% less- that’s an asinine gain to 1:15 feel so hjoyous about- unless that reduction occurs 10-20 times! Don’t try to make me believe a landlord of any type is looking out for us 😂

Infuriating at least. At best… there isn’t a best not that proposal either, faux concern for real ppl, you still do not understand the pinch of a person making $70,000 when you are single, you can’t save, you have no money in event of catastrophe as you have already given your savings to move by paying insane amounts of money!!!!!!

Washington/seattle love passing bills lol hahahaha

$300 dollars apartment be okay!!?? Why because the aparmen .pass 100 years and still good.shape!! so300 is fear right!!!

Let’s put a cap on sewer, water, garbage and most of all taxes. That way landlords won’t need to raise the rent.

Stop raising the rent keep it affordable 1600 is not affordable

This landlord is 100% correct! the cost of rent is passed on to the service workers employers. The workers will beg for a income raise, which passes this cost on to the customer. Guess who is winning? the land lords and corporations. Everyone else looses! The workers are often forced out of Seattle and live north and south and that puts tens of thousands of MORE cars on Interstate 5! Vancouver Bc my lad city went though this pain a decade ago and no one wants to work in Vancouver. Customer service service employees don't go there and the customer service wait times goes to crap! Rent should ALWAYS align with the average labor in the area at 33% of the average income of the service workers!

If you can’t afford the rent around Seattle, move to Yakima, or Wenatchee! No one EVER helped me!! I lived within my means, delayed gratification, and used coupons, saving money for years to buy my first home. ……Cry me a river.

I think a 1 bedroom should be 1000 if it's like that or 900 landlords will get there money if you do the math by year

Won’t work.

2:57 Everyone is forced to live with other ppl.

So, far I don't hear N0 Solution!🙄

It's just pure greed pure greed and they no it and the don't care there already rich

Rents are falling, rents are falling! No they aren’t. They’ve only gone up every time the lease ends. Seattle is highly unaffordable.

PEOPLE NEED TO WORK TOGETHER GREED NEEDS TO SUBSIDE FOR WE CAN ALL LIVE, WORK, LEARN, AND STRIVE 4 BETTER TOGETHER FOR UNITY IS KEY WE AS PEOPLE NEED TO TO STAND TOGETHER AND TAKE BACK OUR PEACE AND RIGHTS BEFORE ANY BILL, PIECE OF PAPER, OR FORCED REGULATION AND STIPULATIONS BASED OFF CURRENCY CREATED AND CONTROLLED BY ELITE PLAYERS IN THE GAME OF LIFE ONLY THIS IS OUR REALITY WE ARE NOT PUSHIN PLASTIC CARS DOWN A CARDBOARD GAME WE ARE ALL OUT HERE STRUGGLING IN INDIVIDUAL SITUATIONS NOT TO MENTION THE MELTING POT WE ALL LIVE IN MOTHER NATURE BELONGS TO NO MAN REGARDLESS OF WHAT ANY MAN OR WOMAN MAY SAY. IT ALL COMES DOWN TO MONEY(CURRENCY), POWER, AND CONTROL LEADING TO BETRAYAL, GREED, AND SELFISH TOXICITY LOGIC CREATED FROM LIES MANY PEOPLE LIVING IN FEAR RATHER THAN UNITY AND HAVING LOVE FOR THEIR FELLOW MAN OR WOMAN WHO STANDS TO OUR LEFT AND RIGHT FOR WE ARE STRONGER TOGETHER MUCH LOVE AND RESPECT TO ALL THE FAMILIES ON A DAILY GRIND CAUGHT IN A DEPRESSION CAUSED BY THE WAY OF LIFE PUSH PULL STRIVE PEOPLE LETS GET BACKUP AND PROCEED ACCORDINGLY TO SECURE OUR CHILDREN'S FUTURE -GC #TenToezDowN #Movement #unitedwestanddividedwefall #unity #respect

No solution will work if there is a shortage.

Rents need to be able to incur the annual property tax increases school bonds and levies that are voted in favor of. Esp if the demographics point in favor of those renting are benefiting directly from the county or district services. The price of repairs is not capped nor is the cost of goods used for necessary repair remodels upgrades . All subject to market inflation. Your contractor has to deal with all the same taxes plus fuel and labor. That is passed onto the consumer. This is how all this works. They aren't gonna lower or stop taxing you. Wait to you get your tax bill for this year! The state would do better to expand their welfare system and hand out rent vouchers for those that qualify.

seems like a pointless bill.....

I don't think this is accurate . And it shouldn't be allowed . Nobody should have to pay high rent for low lives who lower people's quality of life