Sunday, June 26, 2011

New apartment contruction

In Bellingham near State and Railroad. I read there is a housing shortage for apartments so new construction is needed. Otherwise rents are trending upwards again. Construction has been slow due to the financial panic of 2008 and a shortage of land zoned for high density. A few new places are starting to be built to try and catch up with the continued population growth. Hopefully more land can be zoned for density to support lifestyles of simplicity. Studio apartments seem to always be needed.

As for the single family housing market, it's still considered in the doldrums. Unlikely that most people who work in the local economy could qualify for mortgages on single family homes that still are priced around a quarter million. That's our housing market.

The percentage of US population that is single seems to be rising from year to year so "family" homes make less sense. Also that's good as we are entering, if we are smart, a low footprint economy.

Maybe detached housing makes sense for dividing part of the house up into "mother in law" apartments.

Hopefully, we are adapting to a lower footprint world.

I'm glad to still rent my reasonable room and be within walking distance from work.

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