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GRDadof3

Housing Opportunity Index

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Grand Rapids ranked second in country for most affordable housing

(Grand Rapids, May 29, 2005, 6:04 p.m.) Cheap prices, wide selections, and plenty of space makes West Michigan one of the most affordable housing markets in the country.

A new study ranks greater Grand Rapids next to the best when it comes to finding decent affordable homes.

http://www.woodtv.com/Global/story.asp?S=3...43&nav=0RcdaQtR

I would normally say this is great news, but when I review the list, I don't know if this is good company to be with or not. I have been to Youngstown Ohio, and it wasn't pretty :unsure: Housing prices usually have more to do with DEMAND than with material/labor costs.

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Grand Rapids has always been a cheap hosing market. I am not sure that demand is really holding us back. Most housing raw materials and labor are pretty low cost here. Remeber, one of the largest home products suppliers is HQ'ed here.

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" Most housing raw materials and labor are pretty low cost here. Remeber, one of the largest home products suppliers is HQ'ed here. "

Not according to Wood TV, they said in the televised peice that our hosing market is affordable, what's holding us back is the raw material and larbour costs...

Are you refering to Amway superNOVA?

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Rizzo,

He is talking about Universal Forest Products.

I don't know about cheap living. I have been looking for houses lately and been on the Parade of Homes, and have had sticker shock all along the way. ;)

Joe

" Most housing raw materials and labor are pretty low cost here. Remeber, one of the largest home products suppliers is HQ'ed here. "

Not according to Wood TV, they said in the televised peice that our hosing market is affordable, what's holding us back is the raw material and larbour costs...

Are you refering to Amway superNOVA?

<{POST_SNAPBACK}>

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I should have posted the article on NAHB's website. Here it is:

http://www.nahb.org/news_details.aspx?newsID=1501

It is more interesting than Wood TV's. What the HOI indicates is that in this area, almost 90% of the housing is attainable for a family earning the median family income. Whereas in other markets, like most of the 10 worst, only 5% of homes are priced within striking distance of a family making the median family income :o I don't know who in their right mind would willfully move to California, despite the perceived "culture" and favorable weather.

But demand for housing is so strong in California, and the supply is static, that the pricing continues to skyrocket out of control. Here we have moderate demand, but supply is plenty with still a lot of rural land in Kent County that is undeveloped.

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I still think that this is a good thing. Home ownership is one of the best things that a normal person can do. Ownership develops wealth, fosters responsibility, and tends to make people care a bit more about their neighborhoods. Rental communities suck, because landlords (slumlords) really could care less about the land or the people. Owners have something at stake - the value of their homes and are more willing to invest time and money to keep the area nice.

It is also contageous. Have you ever noticed that when one person mows their lawn, neighbors are out right afterwards also doing the same. Or when someone improves their home, the same things can be seen.

This is good for a city. And having 90% of families in the area capable of home ownership, it means good things in the long run for the city and region. As home ownership becomes more and more difficult across the nation, islands like Grand Rapids will stand out more and more for the values of ownership and responsibility.

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I wonder what they label as decent.

<{POST_SNAPBACK}>

Interesting how Wood TV throws in their own descriptor, that I find nowhere in the original NAHB article :huh: I also find affordable housing in this area to be a great thing, and a draw for people considering transferring to the area, or people looking to own a home.

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