There was just a story on local NPR radio station KPLU about Seattle tenants getting displaced by condo conversions. They spoke to both displaced renters and new condo owners. I found myself yelling obscenities at the radio, specifically at the dude who just bought a place, and though he feels sad about the people who got booted out of what is now his condo, he is happy for himself and is wondering how he will decorate his swinging new pad.
The tenants' union is fighting for a new law that will require landlords to give a 120 day notice instead of 90, and to up the amount of relocation assistance. This is of no help whatsoever. To qualify for relocation assistance, your income has to be so low so that you wouldn't have been able to afford to live in your apartment in the first place. So upping the amount of assistance is ridiculous. The extra time would be nice, but it's not much, not much at all.
I don't think there is any solution to the issue. Market forces will prevail. Maybe if Seattle's government could get anything accomplished (the Monorail and Alaskan Way Viaduct are two examples that show they can't) I might have faith that they could develop some sort of program to provide reasonably priced rental housing, but why should they, really? What has Seattle lost now that I'm not renting there anymore? Surely whoever comes and spend a half million dollars for my old place (ha! that figure still cracks me right up) is going to spend more money, pay more taxes, perhaps even be more invested in the community and city. That I had every intention of continuing to raise my little family there doesn't mean a whole lot.
When I was cleaning my apartment for the last time, I was sweeping outside and a young woman walked by. "Excuse me!" she called out to me, "are these apartments renting now?" I explained to her that they were being converted to condos and she said she'd seen a lot of that. She'd just moved from Portland and was having a hard time finding a place. She was amazed at the rents. We chatted a bit and then she said good-bye. She walked off shaking her head. "Maybe I won't be living in Seattle afterall," I heard as she rounded the corner. Nope, I thought, glancing around my neighborhood for the last time, me neither.