Candidates propose tools — from trust funds to anti-speculation taxes — to counter rising housing prices

Housing affordability and speculation were frequent topics at the Ferndale seniors candidate forum. Candidates described the limits of market-rate development and discussed tools to preserve or increase affordable housing. Laura Michalski said the city uses tax incentives to produce subsidized units; Quinn Ziegler and Eddie Sabertini questioned whether typical developer incentives deliver lasting affordability, because many units are priced for households at 80% of area median income and incentives can expire. Sabertini proposed alternatives including an affordable housing trust fund, community land trusts, adaptive reuse, and shared-equity models that keep housing affordable over time. Michalski noted conditional developer incentives and talked about funds developers sometimes set aside to extend affordability beyond incentive periods.

Why it matters: Participants said investor-driven purchases and rapid price increases reduce access to homeownership and displace long-term residents; candidates emphasized policy tools the city controls (zoning, city-owned land, targeted incentives) and those that require broader collaboration or funding.

Details discussed: Proposed measures included anti-speculation taxes (to discourage flipping and hold speculative investors liable), use of city-owned land for mission-driven development, community land trusts, and an affordable housing trust fund. Candidates also highlighted energy-efficiency programs and homestead exemptions to lower household costs. No ordinance or funding decision was made at the forum.

Ending: Candidates asked residents to consider trade-offs and pushed for targeted local tools while acknowledging state and regional housing pressures beyond the city's control.