ABSTRACT
Rental housing in Fairbanks seemed like a good investment to buyers in Seattle and other areas, who immediately raised rents to pay off mortgages during the pipeline period. Most of the residential and commercial growth in the Fairbanks community during the pipeline period occurred in areas which depended upon Golden Valley Electric Association for its electricity. Historically, Fairbanks has had anything but a stable economy. From its earliest days as a gold rush town, Fairbanks has followed a classical boom/bust cycle. Most local businesses have been family organizations established in Fairbanks over a period of years. In 1970 it appeared that the pipeline construction boom was imminent and many forward-thinking business persons in Fairbanks expanded their inventories and operations to accommodate the anticipated increased demands. Many of the business people and community leaders were born and raised in Fairbanks, and their expectations have been shaped by their experiences in the community.
