Can't Build Fast Enough In Olympia

Yet another story about some of the downsides of the extreme seller's market we've had here lately:

Achieving the dream of home ownership has become hard-earned for some buyers in South Sound and in some of the nation's hotter real estate markets.

That's because builders are struggling to keep up with demand for new homes. On occasion, they can't meet their construction closing dates and require buyers to find shelter in motels, apartments or with friends until the homes are finished.

Not only is it difficult to finish homes on schedule, but the mad rush of building going on brings questions of quality to mind, as well.

"Finding quality vendors (subcontractors) is tough in this market because they're all so busy," McGowan said. "In this sellers' market, there are more buyers than we have homes to build. So, there is a backlog."

Twenty, thirty, fifty years from now and beyond we're going to be stuck with the thrown-together, crammed-in housing that is being built as fast as possible today. Lucky us.

(Jim Szymanski & Rolf Boone, The Olympian, 09.18.2005)