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Article: Is the bottom dropping out of Alaska's housing market? Are we in for another bust? Experts say no.
- Article from:
- Alaska Business Monthly
- Article date:
- March 1, 2006
- Author:
CopyrightCOPYRIGHT 2006 Alaska Business Publishing Company, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The housing market in Anchorage remains robust, despite high prices, escalating building costs and steadily increasing interest rates. However. the pace of home building--particularly with single-family houses--is slowing down. Now some people are wondering if the residential market has peaked and if prices will plummet. But perhaps the million-dollar question is: Will the bottom drop out of Alaska's housing market. as it did in the 1980s?
The consensus among local experts is that the residential housing market is not headed for a drastic downturn. And the boom-bust scenario that played out in the '80s isn't likely to happen again. According to state economist ...