Consumer Jitters Cause Housing Industry Slump

The housing industry is fighting a losing battle this year against a weakening job market and consumer uncertainty, industry experts say.

Residential construction will decline by 8 percent from last year, according to a prediction by Detroit-based Lomas Mortgage USA. It will be the first calendaryear decline in new housing since recessionary 1991.

The Midwest and Pacific Coast will take the worst hits. Florida will likely be the No. 1 state for construction permits, but volume will be lower than last year, according to the report. Atlanta and Phoenix are in the top spot for city permits, and Portland is the only Northwest city to make the top 10.

The only upturn is in multifamily housing, the company said.

Last year, construction of apartments was up more than 40 percent from the historically low figures of 1993. Preliminary multifamily figures from the first half of 1995 are equally bright, especially in the Rocky Mountain and Southern states.

TRANSACTIONS:

Spokane Respite Center, play therapy for disabled children, leased 700 square feet in the Loma Vista Shopping Center. Agents: Denise Harfield and Lynn Davis of R.W. Robideaux & Co.

Metro Quick Signs leased 1,000 square feet at 125 E. Riverside. Agent: John Stejer of R.W. Robideaux & Co.

Papa Murphy’s Pizza leased 2,766 square feet at the Ash & Rowen Shopping Center. Agents: Denise Harfield and Earl Engle of R.W. Robideaux & Co.

Pat Dockrey of Valley Investments leased 2,410 square feet for a commercial refrigeration company at 934A N. Lake Road. Agents: Jack Carroll of Jack Hatch Co. and James Roeber of Northwest Properties.

Oak Furniture Warehouse leased 8,202 square feet to open a branch at 4402 N. Division. Agent: Bill Brooks of Pinnacle.

Jeannie Gadbury leased 1,750 square feet to open a lingerie and novelty store at 1517 S. Pines. Agent: Bill Brooks of Pinnacle.

Applebee’s Restaurant leased 5,500 square feet for a new site at 280 W. Hanley, Coeur d’Alene. Agents: Larry Runkel of Hope Realty and Bill Brooks of Pinnacle.

Conklin Trust purchased a duplex at 5509-5511 S. Crestline. Agents: Nancy Wynia and Lynne Lind of John L. Scott and Bill Brooks of Pinnacle.

Richard Vandervert purchased 5,200 square feet at 4402 N. Division to convert JB’s Restaurant to a retail pad. Agents: Joe Stanek and Bill Brooks of Pinnacle.

Spokane Fleet Service leased 1,183 square feet for a new branch at 9514 E. Montgomery in the Argonne Commercial Center. Agnets: Dale Bright of Tomlinson Black and Mark and Tracy Lucas of Kiemle & Hagood.

Thomas Boge leased 6,000 square feet for a bakery at 202 N. Lee St. Agent: Mark and Tracy Lucas of Kiemle & Hagood.

Western Product Inc. leased 3,000 square feet to expand at 4101 E. Broadway. Agents: Roger Wach of Tomlinson Black and Mark and Tracy Lucas of Kiemle & Hagood.

Cascade Controls & Electric Supply leased 2,830 square feet to expand at 7311 E. Broadway. Agents: Jared Miller of Properties One and Mark and Tracy Lucas of Kiemle & Hagood.

Commercial Heat Treaters purchased 2.47 acres for a new branch at 17600 E. Euclid in the Spokane Business Center. Agents: Mark and Tracy Lucas of Kiemle & Hagood.

American Parts Systems Inc. leased 5,070 square feet at 165 S. Pine, Bay 2. Agent: Don Williams of Tomlinson Black.

Evan Michaels & Sons Jewelry and Art Store leased 650 square feet at 601 W. Main, Suite 201. Agents: Alison Bantz, Linda Cobbs and Larry Soehren of Kiemle & Hagood.

Jerrieann Bare of The Gosling leased 2,055 square feet at 601 W. Main. Agent: Larry Soehren of Kiemle & Hagood.

John Wolf leased 909 square feet for an accounting office at 7307 N. Division. Agents: Jim Maki of Jeff K. Johnson and Craig Soehren of Kiemle & Hagood.

Humanix Corp. leased 7,808 square feet for a new branch at 7307 N. Division. Agents: Jim Maki of Jeff K. Johnson and Craig Soehren of Kiemle & Hagood.

Physicians Clinic of Spokane purchased 66,000 square feet at 820 S. McClellan. Agents: Mike Nicholson of Nicholson-Wood Realtors and Jerry Hagood of Kiemle & Hagood.

Home Interiors & Gifts leased 1,984 square feet at 11327 E. Montgomery. Agents: Neil Thompson of Tomlinson Black and Steve Gill of Kiemle & Hagood.

Michael Plumlee leased 4,600 square feet to move his pottery business to 130 S. Division. Agents: Jeff McGougan of Tomlinson Black and Ken McLeod of Kiemle & Hagood.

, DataTimes