Your Expensive House Isn’t Worth It

Was reading about some folks struggling to pay for child care in Seattle.

For some, daycare cost upwards of $2k a month, rivalling their mortgage payments. When other’s asked, at such prices, they didn’t just hire a nanny, it was explained that someone making only $24k a year wouldn’t be able to live in Seattle.

Why?

Because like many cities, Seattle has an astronomically high cost of living, and this is primarily due to zoning issues in the city. As homeowners lobby their local government to disallow more dense housing – green washed for environmental concerns usually – they drive their own home prices up while keeping everyone else out.

Everyone else, including nannies.

Which means those homeowners can lock up a whole lot of cash in their houses, but end up paying every day for it in super expensive day care rather than having prices competed down by cheaper nannies.

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