Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

Seattle is cooked

12 Oct 2026 · 1 min

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Christian Osgood warns that Seattle faces a mass exodus if voters don't repeal the state's income tax. The tax originally targeted millionaires but has been revised down to $250,000, catching far more people in its net.

Do you expect to see another exodus? Because Seattle's had an exodus in the past.
We are seeing that right now. We've got this vote coming up on the initiative to repeal the income tax. If that fails, you're going to see an explosion of people choosing to leave.
Oh yeah, the income tax in this Washington state. Yes. They started off saying, hey, we're going to tax millionaires. That's it. Now they've brought that down to $750,000 and there's a proposal to bring it down to $250,000.
You usually don't see such a monumentally stupid— All of you who are like, Christian, why did you abandon Washington State? Why aren't you still providing housing here? Well, this is why we're doing a lot less work in Washington, specifically because policy like this.