Business Services Industry
Home Sales in Tacoma, Wash., Area Drop Following Attacks.
Knight Ridder/Tribune Business News, September, 2001
By Jim Szymanski, The News Tribune, Tacoma, Wash. Knight Ridder/Tribune Business News
Sep. 28--Home sales in the Puget Sound region dropped nearly 30 percent in the two weeks since terrorists struck on the East Coast and Boeing announced massive layoffs.
Though real estate agents hope the decline is temporary, one regional economist now is predicting a two-year slowdown in the area's formerly red-hot housing market.
"People are holding their money tighter, and that affects housing," said regional economist Dick Conway. He predicts the next two years will bring the largest slowdown in home sales since the region narrowly escaped a recession during the last major round of Boeing layoffs in 1990.
Since the current economic slowdown...
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