Rolf Boone reports in The Olympian:
“About 900 apartments are under construction or have been proposed in Thurston County, a sign of how far the South Sound real estate market has swung from the building of new single-family residences to rental units…

“Foreclosures have forced some homeowners to downsize, new lending standards have made it difficult for some potential owners to qualify for a mortgage, and some prospective buyers continue to sit on the sidelines waiting for the single-family residential market to finally hit bottom…

“Still, the shift to apartment construction doesnt mean the home-building industry has stopped…

The City of Yelm has issued 26 single-family building permits through May 31…”