There are many factors here and it is hard to prioritize but lets start with the need for people to get out of the grid lock in traffic when they retire. In our cities across the country commuters are spending more and more time commuting back a forth to work. Our inability to provide rapid transit for our commuters costs us dearly in lost time and frustraton for the commuter. Given a choice when they retire, retirees want to live in a community where they can have some guarentee they can travel from A to B in a designated period of time, have a moderate climate, health care and recreation. Bellingham has no traffic grid lock primarily because we are a retirement community without set commuter patterns. Our growth will come from a new generation of retirees the "baby boomers" who started comming on the market January 1, 2011 at a rate of 10,000 per day which will continue for the next 19 years and with that comes Demand, Growth and Appreciation of Bellingham's property values as a "retirement community". At the end of the 1st quarter of 2008 Bellingham's 5 year home appreciation rate was greater than 50% and we will recover from this recession and return to that 5 year appreciation. You can view this graph on my web site page "Developers, Investors".
Our "Waterfront Development Project" will make a huge contribution to Demand, Growth and Appreciation with the addition of a over the water boardwalk in 2012 from Boulevard Park to the Waterfront District enabling walkers and bikers to walk and bike from Fairhaven to the Waterfront District free of automobiles. To learn more about the "Waterfront Development Project" please visit "local news" on my web site http://www.beautifulbellingham.com/ .
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