Washington homeownership program attempts to rectify past inequities
Real estate investors and developers hailed the Federal Reserve’s recent interest rate cut and what it could mean for transactions in the months ahead. Likewise, optimism is spreading in the housing market as mortgage rates ease. In Washington, an uptick in real estate transactions, both commercial and residential, would also benefit a little-known housing program launched earlier this year. A $100 recording fee on all real estate transactions in the state, paid by the buyer, is funding the state’s Covenant Homeownership Program (CHP). Continue reading at The Puget Sound Business Journal. (Andrew Unangst)
Lack of shelter and housing fuels domestic violence in WA, advocates say
Domestic violence is the leading cause of homelessness for women in the United States, according to the federal Office of Family Violence Prevention and Services. In Clark County, the number of people who said they’re homeless due to domestic violence more than doubled from 808 people in 2022 to 1,794 in 2023, according to newly released numbers from the Council for the Homeless management information system. Federal funding cuts that may hit domestic violence programs next year will make the situation even more dire if the state doesn’t commit to permanent funding, they say. Continue reading at The Seattle Times. (Alexis Weisend)
Citizen panel says Washington lawmakers deserve a 14% raise
State lawmakers in Washington will get a 14% raise over the next two years, pushing their annual pay above $70,000, under a recommendation adopted Thursday by a citizen salary-setting panel. Most legislators currently earn $61,997 annually. They’d receive a 7% increase on July 1, 2025, bringing their pay to $66,411 and another 7% a year later, upping their salaries to $71,126. Statewide executives and judges will get wage hikes too, though increases settled on by the Washington Citizens’ Commission on Salaries for Elected Officials are not quite as hefty. Continue reading at The WA State Standard. (Jerry Cornfield)
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