It is good to see the city focusing on subsidized housing for people who need assistance. That is a proper city role.
Market-rate housing is an entirely different animal. When the city tries to affect it, all they accomplish is to reduce our quality of life and subsidize wealthy developers.
Let's realize that our housing shortage is not unique. It is part of a nationwide phenomenon that results from the bankers' 2008 misdeeds. It will take years to catch up.
And please let's realize that Olympia is not an island in the middle of the ocean. The housing market is regional. Did we not learn that from our recent experience with the run-up in housing prices? Housing built anywhere in our general area benefits Olympia the same as housing built within city limits.
In general, we need more realistic and sophisticated thinking.
Bob Jacobs
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