The housing recovery could mean another real estate bubble in the making, especially here in Bellingham where property values are starting to soar again. The house where I was living just sold for approaching $400,000. Luckily, by coincidence, someone moved out of a nice apartment in a business building that is owned by my employer. I have a good place to move to so I moved. Rent is not bad given the size. They want stable tenants there.
At my old place, I hear the new rent for the rooms may be nearly as high as what I am now paying for an entire apartment at my new place. Will they get that much? Who knows. They are planning to remodel at my old place. The local market is starting to take off again, but there is a lot more money in the ownership market than there is in the local job and wage market. Property values tend to be far ahead of local wages; especially in bubble times.
After living, since 1987, in a room with small bathroom I've documented that life and my non fossil fueled move of one block to my new place. See images on Flickr.
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