Seattle is experiencing a luxury real estate boom, with thousands of new luxury residential units. Among the perils are anonymous buyers, money laundering, growing inequality and rising land costs.

One driver of these trends is trillions of dollars of global hidden wealth touching down in major U.S. cities and real estate markets. More millionaires and billionaires buying properties in Seattle will exacerbate the city's already grotesque inequality of income, wealth, and opportunity.

The city and policymakers should protect current residents by monitoring the thousands of new luxury units in the pipeline and consider increased transparency requirements around ownership. Sign the petition to tell your City Councilor you support a fair and diverse Seattle below.