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Clark County Parade of Homes breaks ground in Felida neighborhood in Vancouver

A groundbreaking for Clark County's longest running new home show took place on Thursday in the Felida neighborhood of Vancouver.

VANCOUVER, Wash. — A groundbreaking for Clark County's longest running new home show in its 45th year. This year, the Parade of Homes is in the Ashbury Development in Felida, a neighborhood in Vancouver. 

The Building Industry Association and "GRO", a landscape company, are hosting the event this year. As 30-year-mortage rates hit 13-year highs, some builders said buyers are doing whatever they can to avoid taking a loan. 

"Those buyers have the option to use cash to buy," Erin Wriston Kingston Homes Owner said. "They are doing that now instead of borrowing money for the higher interest rates."

The Washington State Department of Commerce said more than 1.1 million homes need to be built to support housing needs over the next twenty years. This would require about 50,000 homes built each year. The homes in the Parade of Homes neighborhood are luxury but Bart Hansen with the BIA said all types of homes are need in Clark County. 

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"A lot of affordable housing is already out there," Hansen said. "It's been out there for twenty, thirty years. If you don't build more housing then your artificially inflate the cost of existing housing."

These homes will be decked out with the latest features and fixtures. Builder Tony Marnella, owner of Marnella Homes, said they aren't seeing a downturn in homebuying because of high interest rates. 

"To have interest rates in the six to seven percent historically is actually pretty normal," Marnella said. 

The Parade of Homes show will officially start September 8 and runs through September 24.

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