The Washington Research Council just completed a study of the REET's negative effects on lower income buyers and noted that state revenues from this source have nearly tripled in eleven years. The state Shoreline Management Act and the federal Endangered Species Act both require local governments to review and rewrite salmon protection laws. As we all know, however, this cost is passed on to the buyer, making new housing in our area less attainable for many families. We've all waited at that certain traffic light through three cycles and cursed under our breath. What we forget is that some lowering of service levels is the inevitable price for living in a prosperous, desirable and growing area.
Concurrency requires all the financing and services first.
Working for change in taxes and regulation does make a difference. For the last three years, nationwide home sales have averaged a whopping 5 million units per year. This torrid pace of buying and selling was unleashed in part because Congress was finally convinced by the industry to improve the capital gains tax exemption on the sale of a principal residence. We may never hit a homerun like that again, but we'll keep swinging.