In 2005 it seemed the local economy was growing at an unusually overheated pace. As interest rates continue to rise, I would expect things to slow down a little. Even if there is a slowdown, there are so many things already on the boards, especially in construction, that it shouldn't be a big slowdown. |
National retailers look closely at an area's numbers, especially population, before making the decision to open a store. As Bellingham gets closer to a population of 100,000, more retailers will consider Bellingham as a good market to enter. |
There are a lot of other businesses tied to construction, such as title companies, insurance companies and architects. So a slowdown in construction would have an impact on the overall economy. |