|
|
Article: Rental market heats up: slower real estate market spurs growth in rentals.(real estate and construction)
- Article from:
- Bellingham Business Journal
- Article date:
- November 1, 2007
- Author:
CopyrightCOPYRIGHT 2007 Sound Publishing 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)
|
Bellingham is a great place to live. The problem is finding a great place to live in Bellingham.
As the real estate market recovers from a summer of woes--mainly the extinction of the subprime loan and the fallout it created--a new trend is emerging. Buyers are turning into renters.
In a town where roughly half of the residents are already renters, according to 2000 census data and current market statistics, these new market pressures are creating some awkward growing pains.
"What's happening in a number of cities, including Bellingham, is that the housing market is slowing and the rental market is heating up," said Julie Hansen, a professor of ...