Economist: Boeing contract will have big impact on housing in Western Washington

The article explores the projected impact of a new Boeing contract on the housing market in Western Washington, as outlined by economist Jeff Tucker. With increased incomes and job security for machinists, there is a strong expectation for a surge in housing demand in the region. Tucker notes that, despite recent labor strikes, home prices have maintained stability, signaling a resilient market. He suggests that resolving the strike will serve as a tailwind for housing demand, further enhancing job growth prospects. Additionally, the article highlights improvements in mortgage affordability, leading to increased activity in the housing market.

King, Pierce, and Snohomish Counties are experiencing notable price increases, illustrating the broader trend. Tucker advocates for changes in Seattle's design review process to facilitate the construction of multi-family housing, addressing the region's growing housing needs. This article effectively illustrates the complex relationship between labor agreements and housing economics in Western Washington.