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Real Estate
 Lynn Porter Real Estate Editor |
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October 2, 2008
Real Estate Buzz: Credit crunch good for apartment owners
By LYNN PORTER
Real Estate Editor
Real Estate Editor
In 2003 and 2004, only 12 percent of new households in King and Snohomish counties chose to rent apartments rather than buy homes, according to O'Connor Consulting's recent Puget Sound Apartment Market report.
By 2007, that percentage had climbed to 25, said Brian O'Connor, principal with the Seattle-based firm that does appraisals and market studies for commercial properties. By the end of this year, he expects 35 percent of new households in the two counties will be renters, and next year 40 percent or more will be.
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Previous columns:
- Real Estate Buzz: Callahan: Seattle market will hold up, 09-18-2008
- Real Estate Buzz: Site of proposed Bellingham tower now for sale, 08-21-2008
- Real Estate Buzz: Intracorp listing includes a surprise, 08-07-2008
- Real Estate Buzz: Ivanoff sees ‘pretty strong demand', 07-24-2008
- Real Estate Buzz: After 100 years, Joshua Green gets redo, 07-10-2008
- Real Estate Buzz: Polyclinic buys nearby lot, just in case, 06-26-2008
- Real Estate Buzz: Property sold in a prime retail spot, 06-12-2008
- Real Estate Buzz: Escala's $30M amenity: a private club, 05-15-2008