War boosts real estate near installations

[unhappycamper]

War boosts real estate near installations
By Kristin M. Hall - The Associated Press
Posted : Tuesday Nov 11, 2008 21:57:21 EST

CLARKSVILLE, Tenn. — Sometimes Tim Wells felt like the only man left on his street.

Thousands of soldiers were deployed out of Fort Campbell, Ky., just a few miles away, and homes in Wells’ subdivision were sitting empty. But a few months later, the soldiers began to return and, one by one, the homes were quickly purchased.

“They all started selling, boom-boom-boom, right down the line, as people rotated in,” said Wells, who was a civilian contractor working on the base. “It was a pretty clear pattern.”

Although overall national home prices and sales are down, there are pockets in the U.S. doing well. Among them are military towns dominated by big installations, helped by steady wartime employment and by more moderate increases in values and less reckless lending than many boom areas saw during the bubble.

The Associated Press reviewed housing data in four states with big military installations and found nearby communities fared better than national averages. Some towns have even seen average home prices rise, bolstered by increased recruitment and steady defense-related employment during the wars in Iraq and Afghanistan.


Rest of article at: http://www.armytimes.com/news/2008/11/ap_realestate_bases_111108/%2e