That means not median pricing, but below median. Way below median.

Teachers are lucky if they make $40,000, but are priced out of homes in the city.

Y'all might try actually studying the Growth Management Act - it has as its fundamental underpinning this little concept called Concurrency that the City has all but officially abandoned when it comes to accomodating new growth (for example - in order to accomodate all of the growth that occurred in West Seattle over the last 10 years, you NEEDED the Alaskan Way Viaduct to provide tranportation concurrency - and replacing it with nothing runs directly counter to the intent of the GMA).

Been to the suburbs lately? They're still growing faster than Seattle is - high-density condos (many of which are second homes for retirees, by the way) in Belltown and South Lake Union notwithstanding.

If you make it easier and more profitable to tear down the housing that exists (as the City has, and as the Stranger actively encourages everywhere but where its staffers go to drink), more expensive new construction will take its place. Try not to act surprised that the middle class are leaving the City because of this (not to mention the diaspora of people of color from the CD and SE Seattle - been down MLK lately?)

It is not possible to build inexpensive 100-story anythings, I don't think. New construction is enormously expensive, and exponentially so after 20 or so stories.