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Homeownership has long been a cornerstone of the American Dream. But should it be?

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For E. David Blum, there’s one reason for the current state of the market: supply. Blum is a teaching associate with the Department of Urban Design and Planning at the University of Washington’s College of Built Environments.

He said the only way to create more supply is to build more housing.

“In a city like Seattle, the overwhelming majority of building permits are issued for the construction of rental housing,” Blum said. “If you can’t build, because it’s not legally permissible zoning, or it takes so long, i.e., three years to pull a building permit, nobody will do it.”


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