Shawn Hoban, CPM The market has yet to catch up to many recent changes in the economy, both locally and nationally. No one yet knows the impact of the recent announcements at Boeing, but it certainly wasn t good news for the Puget Sound market. While everyone waited to see a slowdown in 2000, nearly all markets remained stable or improved. Our portfolio continues to perform very well, but as we look forward we feel a much greater level of uncertainty than in the recent past. We have had a strong run for several years.
All good things come to an end.
We don t forecast anything dire for any sub-market in the Puget Sound region, but rent growth at or below inflation and the rate of expense increase will mean flattened bottom line for a while. Tom Petramalo, CPM, CCIM Fears of Boeing relocating, the energy crisis, heavy commute congestion, and other factors have combined to make many apartment residents consider relocating out of the Pacific northwest. This trend will contribute to a softening of the market and generate some rent concessions. Michael Sauter, RPA Although Boeing will not confirm reports of its plans to close its Renton assembly plant and shift final assembly of the 737 and 757 to Everett, we believe this will occur. Consequently, south Snohomish county s already supply-constrained market will tighten, and we anticipate the return of substantial rent growth.