Housing Policy Should Focus on Production, Not Restrictions

People have flocked to Washington to pursue economic opportunities and enjoy the state’s natural scenery and outdoor life. Over a 12-month period, Washington’s population growth outpaced the national average. On the surface, this is a positive step, but it underscores an issue affecting current and incoming residents: the lack of affordable housing options.

I’ve watched countless families and professionals chase their homeownership dreams only to be met with frustration and financial barriers. With over 20 years of experience advising buyers, sellers, investors, and executives across Bellevue, Kirkland, Seattle, and beyond, I’ve learned one fundamental truth: Washington’s housing challenges are rooted not in demand, but in supply — and if we want real solutions, that’s where public policy must focus.

Every week, I sit down with clients who are priced out, outbid or simply out of options in one of the most dynamic—and expensive—housing markets in the country. The numbers paint an even starker picture: a typical Seattle-area household earning about $117,000 and saving 5% of income would need more than 22 years to accumulate a down payment for a median-priced home. That’s longer than many young professionals’ entire careers.

This isn’t just frustrating — it’s a barrier to economic mobility, community stability, and long-term prosperity in a region built on innovation and opportunity.

Much of the recent debate in Olympia and local city halls has centered on restricting investors from buying single-family homes under the belief that doing so will improve housing affordability. As a broker, I understand the impulse behind these proposals: Washington families deserve every chance to live in the communities where they work. But restricting responsible private capital won’t meaningfully boost supply — it will constrain it.

During periods when institutional investors purchase homes, they also provide much-needed single-family rental options for households that are not yet in a position to buy. This segment of the market — renters who want quality housing in thriving neighborhoods — cannot be ignored.

Reducing investment activity without addressing supply fundamentals could leave more households with fewer choices and higher rents.

The hard truth is that Puget Sound has been chronically underbuilt for years. Nationwide data show a persistent shortfall of millions of homes since the last financial crisis, with upward pressure on prices wherever supply lags demand. Restricting one class of buyer won’t fix that shortfall — only increasing the number of homes available will.

Housing supply struggles in Washington aren’t caused by a lack of interest or investment; they’re caused by excessive regulatory burdens and fragmented permitting systems that drive up costs and slow production. In my work representing both individual homeowners and institutional clients, I see firsthand how development timelines balloon and costs escalate before a single foundation is poured.

These inefficiencies don’t just delay new homes — they add tens of thousands of dollars to construction costs, which get passed on to buyers and renters alike. In a region with a booming tech economy and jobs growing faster than housing, this imbalance is unsustainable.

Lawmakers have a narrow window to enact meaningful reforms during the current legislative session. With less than a month to go, there’s no time to waste on policies that make headlines but don’t help families.

Instead, legislators should champion:

• Permitting reform to streamline approvals and reduce unnecessary delays.

• Incentives for new housing construction across the full spectrum from single-family to multifamily units.

• Partnerships with private and institutional capital to scale housing development responsibly.

• Smart zoning updates that allow diverse housing types throughout communities.

These aren’t political talking points — they’re pragmatic steps grounded in real market dynamics that I see every day.

Housing isn’t just a real estate transaction. It’s foundational to the health of our economy, the stability of our communities, and the futures of our children. If we get housing policy right in Washington, we give families a better shot at owning a home and make our region more competitive, inclusive, and resilient.

The solution is not to handcuff investment or retreat from growth. The solution is to build, innovate, and collaborate on reforms that unlock the supply our market so desperately needs.

For working families, employers, and taxpayers alike, that’s the opportunity we should be seizing now — before this session ends.

Brian Hopper is Managing Broker and Team Lead of the Hopper Group at Compass, and consistently ranked among the top 1% of real estate agents in the Puget Sound.