Mayor announces effort to try to tackle Seattle housing 'crisis'

SEATTLE -- Mayor Ed Murray warned Tuesday that Seattle has reached a “crisis” of sky-rocketing housing costs.  This comes on the heels of a new report that finds rents in Seattle have spiked faster than any other city in the nation.

Murray is pledging to tackle the problem, which he argues threatens the city’s way of life.  He started Tuesday by announcing a commission to come up with innovative ways to drive down housing costs.

“I’m asking this group to ask the issues that we are all asking, which is how do we continue to be a vibrant economy and supply a diverse housing stock across the economic spectrum,” Murray said.

Left unchecked, Murray said, housing affordability will only going to get worse as Seattle adds tens of thousands of new people over the next decade.

The commission has until May to agree on recommendations.  Murray admits it could take years to fully implement them.