After years of struggling to survive stiff competition from online competitors, today REI said things were finally turning around for the company as it reported record sales of affordable housing.
“Things are going so well that we’re on-track to be the number-one affordable housing developer in Seattle,” said Sarah Fibbons, REI’s VP of Housing Development. “REI is committed to increasing access to affordable housing nationwide, all while offering homeowners 10% back on their purchase in the form of store credit home equity, mortgages through our REI Mastercard, and informed REI employees who fully believe in the quality of the nylon real estate we sell. In fact, we find that many customers taking advantage of our rock-bottom prices on housing these days are REI employees themselves.”
After years of pressure to even come close to meeting the demand for affordable housing in the city, Seattle Mayor Bruce Harrell said he was overjoyed to hear the news.
“Turns out we didn’t need to cut red tape for non-profits like Habitat for Humanity with Councilmember Tammy Morales’ Connected Communities program—which was widely endorsed by everyone but her 8 other Council colleagues—or that Social Housing Initiative that’s collecting signatures to get on the ballot,” said Mayor Harrell. “All we really need is a fine, increasingly corporate company like REI to handle social issues like preventing homelessness and poverty all on their own. And maybe with a little help from SPD routinely sweeping the affordable housing into garbage trucks so that people have to come back and try to buy even more affordable housing.”
According to REI’s market research department, the company expects the positive sales trend to continue after a survey of Seattle residents struggling to find affordable housing confirmed that 75% of them expect the only home they’ll ever be able to own some day is one from REI.
