Seattle's housing market is so hot, homebuyers are getting burned: Today So Far

• Crime is up in Seattle. How is the city responding?
• Seattle housing market is so hot, homebuyers are getting burned.
• Seattleites take a stand, or a run, for Ukraine.

This post originally appeared in KUOW's Today So Far newsletter for Feb. 15, 2022.

Status check on Seattle crime over the past year:

• Overall, crime is up by an average of 10%
• Violent crime is up 20% (a 14-year high)
• Property crime is up 9%
• 80% rise in theft of car parts (mostly catalytic converters)

Those are just some of the points from Amy Radil's recent reporting on the rise of Seattle's crime rates. Some crimes have decreased, but the overall trend is up. Response times are up too, as Seattle has lost a considerable number of police officers.

The city is responding by targeting its efforts at specific crimes (like organized retail theft) and in hotspots. Mayor Bruce Harrell recently pointed to Little Saigon as an example. Between Jan. 1-21, SPD made 23 felony arrests and 14 misdemeanor arrests, and recovered a range of stolen property. Members of the Little Saigon community recently told KUOW that businesses are afraid to open up at times, concerned for their safety. For more on this, check out Amy's story here.

The usual rules just don't apply anymore when it comes to Seattle-area housing. By now, you've probably heard about homes selling for far more than they're listed for, like that Bellevue house that sold for $1 million over asking price. It's just the latest symptom of a regional issue. Or as Redfin economist Daryl Fairweather recently told KUOW: "Sellers can just kick back and let the market determine what the value of the home is. They don't even have to bother pricing it accurately because there are just so many buyers out there who will compete in a bidding war."

There is a web of causes for our current predicament. For example: the region's rents have skyrocketed so high that homeowners are sticking with their properties. Why sell when you'll have to pay just as much in rent, or more? And that phenomenon has tightened the supply as people keep moving here with high salaries, willing to pay cash. That adds up to buyers rushing around town with the dream of simply outcompeting the next person. So basically, it's a lot like what Seattle renters have been putting up with for a while. Welcome to our Thunderdome homebuyers. Hear more about that on today's Seattle Now.

Personally, I already know of locals taking offers from Midwest cities willing to pay people to relocate and work remotely. After all, the typical home price in Tulsa is $170,000.

Finally, Seattleites took a stand, or a run, for Ukraine recently. The title of the event at Green Lake was "The Marathon in New York No One Wants to Run," and it has a lot of meaning behind it. The "New York" they're referencing is not in the U.S. In Ukraine, not far from the border where Russian forces have been amassing, is another town called New York. And it's not too safe there these days. The goal is to get locals to take action and support the people of Ukraine. KUOW's Soundside has the story here.

Have a comment or want to reach out to me? Send me an email at dyer@kuow.org.

AS SEEN ON KUOW

Joe the dog is part of the Dog Aging Project out of the University of Washington. The study is pulling data from more than 32,000 dogs to help understand why some dogs age faster or slower than others. The study could dig up some insights into human biology in our shared environment. (UW Dog Aging Project)

DID YOU KNOW?

In fair Verona, is a tomb that attracts visitors from around the world — Juliet's tomb, of Romeo and Juliet fame. Of course, the play is fictional and that is not really Juliet's tomb, but people still visit it as an altar to one of the world's most famous tales of love and loss. At some point, people began leaving letters at the tomb, sharing their stories of love and heartache.

In the 1930s, people in Verona began writing back — leave a note for Juliet, and she will respond. Letters then began arriving in the mail, sent simply to the city. And in our modern times, email. The effort became an official club in the 1970s, staffed by volunteers who take in all the Juliet correspondence and respond in her name. More than 6,000 letters arrive each year, from around the world, written in English, Spanish, Japanese, German, and more. Each detail stories of love, loneliness, and broken hearts. The club archives the letters in what is now an extensive record filled with thousands of the world's true love tales, available to for visitors to read.

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