Washington state property rights advocates have taken inspiration from Florida’s repeal of its 1985 growth-management mandate (counties in Florida are now allowed but not required to practice growth management). Since Washington’s 1991 law was modeled on the Florida law, it is possible that the Northwest state could follow Florida’s example.
The Senate Governmental Operations Committee is holding a work session on this question, and my written testimony emphasizes that the costs of the greatly exceed its benefits, especially since most of the benefits are imaginary. On Monday, Dan said it might be more useful if I were to talk about the tunnel under Seattle, but that’s not the subject of the hearing.
That tunnel is expected to cost $4.25 billion, and it may be a boondoggle, but this is actually peanuts compared with the cost growth management has imposed on housing. In 2012, about 8,000 new homes were built in the Seattle-Tacoma area. Those homes probably cost at least $200,000 more apiece than they would have without growth management, a total cost of about $1.6 billion. Of course, even more homes were being built each year before 2008, so the total cost over several years could quickly reach $10 billion.
