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What bugs me with many of the comments here is the fact that economic theory is often selectively applied when it is convenient for one's argument. However, the reality of the situation is far more complex. First, let's get off this high horse about builders being the enemy. The majority of builders here are local. They're your neighbors. They build homes for this community. They're not some national, or even multi-national, corporation. So, when you eliminate incentives, the first one's to be priced out of the industry are our local builders. Which de-facto eliminates competition for those who can afford it. That's when the big corporations come in and buy up property and gentrify an area. Our so-called protections are actively working against our own best interests. The truth is that the MFTE should be expanded and a caveat added that local builders get priority for bids.

From: Olympia residents ask city officials to scrap the Multi-family Tax Exemption program

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