Part 6/10:
Seattle isn't alone in this trajectory; cities across the West Coast are experiencing similar patterns of constricted supply and rising costs. California, for instance, has seen construction costs reach upwards of $850,000 per unit, and gas prices in Washington have skyrocketed to be nearly 47% above the national average, owing to policy-related factors like pipeline maintenance and lack of local refineries.
The tax burden is also mounting. Washington's state budget includes $9.2 billion in new taxes, which are passed on to consumers and industries alike, further inflating costs. Business taxes and occupation taxes are rising, discouraging new development and causing many companies to consider relocating to more business-friendly states like Texas or Florida.