Image credit: USA Today via Transparent Real Estate
I’ll share my thoughts and invite you to share yours in the comments:
- How telling that California has its own special little breakdown.
- Interesting to note that not one single state is “In Recovery”- why is that?
- Much of the weight of blogging is in “recession” states and people may think it is because they’re attempting to salvage their careers through an online presence but I would argue that the heavy hitters have been around since their state was green.
- If you look at the housing stats chart of value changes over the year, note that some expansion states had decreases in housing values while recession states had increases. Very interesting.
- Montana is all out on its own. I don’t know why.
- Maps like this are great but can really get a buyer or seller’s hopes up. Real estate is still micro even if a sexy color map is fun. My house has shot up in value while my family in the next subdivision over is sitting at the same as last year. Micro, people, micro!
- No offense, Oklahoma but you’re not in an expansion. A new Super Target doesn’t balance out the GM plant being gone. See the danger of a studly map? We’re all specialists now.
- I would have preferred a more modern color spread- that red is so 2003.
- If you subscribe exclusively to the bubble blogger mentality, Washington shouldn’t be green.
- There’s no mention of it, but I would predict that the top areas in the nation are currently building luxury golf courses. My bias is that I can see one from my window, but my guess is other areas could be analyzed by golf.
What are your thoughts? List them in the comments.
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Consumerism, Geo-mapping columnist
Marketing columnist
Golf has a huge influence. Studying the golfing trends alone can determine with a high degree of certainty the state of an local economy.
This is an amazing visual. If you take in the media reports, the nation is falling apart financially. I never would have imagined so many states are in expansion. Leave it to California to be a maverick; it’s the best visual proof of micromarkets.
Though the map appears to vindicate what I’ve been saying for awhile now, your comments are also on point. The whole golf thing? Not as superficial as some might suppose. Example — Jack Nicolaus is currently designing a course in one of the Carolinas, (I’m pretty sure it’s North). It’ll be an elite club. In speaking to someone close to the development I learned Jack doesn’t even walk the dirt for less than $2 Million.
Developers may be one of the last of the riverboat gamblers, but they don’t pay out that kinda cash unless they’ve done their homework and concluded it’s gonna be in high demand. The results? The first phase of unimproved dirt sold out in weeks for $3-500,000 apiece. Food for thought.
Jeff, you hit the nail on the head.
There is a condo development at the North end of Waterloo. Between me, my clients & my mortgage broker, we own about 10 units in there.
One of the reasons I like the location so much is that it’s near a brand new $10 million big box retail development, that will be anchored by a Walmart.
Commercial Developers tend to have a larger research budget than I do, so I like following their lead. It’s been good to me so far
Lani,
This is a great insight and apprecicate this information. I especially like the nugget about Realtor Blogging in relation to current market status.
Well they have been calling us a one state recession on the news, guess I’ll call and let them know we’re not alone. Until the “big 3″ restructured, we were appreciating at about 8% in Ann Arbor area.
So that goes with your point # 4.
This is a great breakdown and I posted about it as well. It is WAY cool!
(Actually, when you go to the site, each state has its own breakdown. P.K. just took a screensot of it while CA was highlighted)
The article DID say that the “red” states have been the ones with the biggest BOOMS, thus they now get to experience the biggest BUSTS (and yes I am speaking strictly in the economic sense.) Larger pendulum swing in those areas.
Lani – Even though we’re in the red here – it’s great to see a more accurate view of the market. We are seeing lots more activity and even the local paper today (the ultimate in doom and gloom) reminded buyers that “bear and bulls make money but pigs get slaughtered” and that buyers should act now – I nearly pinched myself.
Great top ten observations Lani! and yes, Mariana is correct… California is Red, not pink as Bill O’Reilly would assume…
Very good report. Now it doesn’t seem so dramatic as I believed it was.Of course, there is lot of “at risk” states, however I believe the worst part is behind you. I am dealing with Toronto houses for sale and despite having good times, it seems real estate recession is slowly appearing. But US problems are firmly connected with mortgage problems and banks and I believe this part of busiess is doing well (so far) in Canada. However, I wish somebody made also Canadian version of your map!
Ohio is at risk?
That surprises me, I would have placed us square in the recession. And from talking to people while digging out 20-inches of snow, I think my neighbors would be surprised as well.
Toby
“Much of the weight of blogging is in “recession” states and people may think it is because they’re attempting to salvage their careers through an online presence but I would argue that the heavy hitters have been around since their state was green”
You argument works for me, as well as several other Arizona bloggers I know. Ditto for some in other “red states”.
Don’t believe one optimistic word from any public figure about the economy or humanity in general. They are all part of the problem. Its like a game of Monopoly. In America, the richest 1% now hold 1/2 OF ALL UNITED STATES WEALTH. Unlike ‘lesser’ estimates, this includes all stocks, bonds, cash, and material assets held by America’s richest 1%. Even that filthy pig Oprah acknowledged that it was at about 50% in 2006. Naturally, she put her own ‘humanitarian’ spin on it. Calling attention to her own ‘good will’. WHAT A DISGUSTING HYPOCRITE SLOB. THE RICHEST 1% HAVE LITERALLY MADE WORLD PROSPERITY ABSOLUTELY IMPOSSIBLE. Don’t fall for any of their ‘humanitarian’ CRAP. ITS A SHAM. THESE PEOPLE ARE CAUSING THE SAME PROBLEMS THEY PRETEND TO CARE ABOUT. Ask any professor of economics. Money does not grow on trees. The government can’t just print up more on a whim. At any given time, there is a relative limit to the wealth within ANY economy of ANY size. So when too much wealth accumulates at the top, the middle class slip further into debt and the lower class further into poverty. A similar rule applies worldwide. The world’s richest 1% now own over 40% of ALL WORLD WEALTH. This is EVEN AFTER you account for all of this ‘good will’ ‘humanitarian’ BS from celebrities and executives. ITS A SHAM. As they get richer and richer, less wealth is left circulating beneath them. This is the single greatest underlying cause for the current US recession. The middle class can no longer afford to sustain their share of the economy…. Their wealth has been gradually transfered to the richest 1%. One way or another, we suffer because of their incredible greed. We are talking about TRILLIONS of dollars. Transfered FROM US TO THEM. Over a period of about 27 years. Thats Reaganomics for you. The wealth does not ‘trickle down’ as we were told it would. It just accumulates at the top. Shrinking the middle class and expanding the lower class. Causing a domino effect of socio-economic problems. But the rich will never stop. They will never settle for a reasonable share of ANYTHING. They will do whatever it takes to get even richer. Leaving even less of the pie for the other 99% of us to share. At the same time, they throw back a few tax deductible crumbs and call themselves ‘humanitarians’. Cashing in on the PR and getting even richer the following year. IT CAN’T WORK THIS WAY. Their bogus efforts to make the world a better place can not possibly succeed. Any ‘humanitarian’ progress made in one area will be lost in another. EVERY SINGLE TIME. IT ABSOLUTELY CAN NOT WORK THIS WAY. This is going to end just like a game of Monopoly. The current US recession will drag on for years and lead into the worst US depression of all time. The richest 1% will live like royalty while the rest of us fight over jobs, food, and gasoline. Crime, poverty, and suicide will skyrocket. So don’t fall for all of this PR CRAP from Hollywood, Pro Sports, and Wall Street PIGS. ITS A SHAM. Remember: They are filthy rich EVEN AFTER their tax deductible contributions. Greedy pigs. Now, we are headed for the worst economic and cultural crisis of all time. SEND A “THANK YOU” NOTE TO YOUR FAVORITE MILLIONAIRE. ITS THEIR FAULT. I’m not discounting other factors like China, sub-prime, or gas prices. But all of those factors combined still pale in comparison to that HUGE transfer of wealth to the rich. Anyway, those other factors are all related and further aggrivated because of GREED. If it weren’t for the OBSCENE distribution of wealth within our country, there never would have been such a market for sub-prime to begin with. Which by the way, was another trick whipped up by greedy bankers and executives. IT MAKES THEM RICHER. The credit industry has been ENDORSED by people like Oprah, Ellen, Dr Phil, and many other celebrities. IT MAKES THEM RICHER. Now, there are commercial ties between nearly every industry and every public figure. IT MAKES THEM RICHER. So don’t fall for their ‘good will’ BS. ITS A LIE. If you fall for it, then you’re a fool. If you see any real difference between the moral character of a celebrity, politician, attorney, or executive, then you’re a fool. WAKE UP PEOPLE. THEIR GOAL IS TO WIN THE GAME. The 1% club will always say or do whatever it takes to get as rich as possible. Without the slightest regard for anything or anyone but themselves. Reaganomics. Their idea. Loans from China.. Their idea. NAFTA. Their idea. Outsourcing. Their idea. Sub-prime. Their idea. The commercial lobbyist. Their idea. The multi-million dollar lawsuit.. Their idea. $200 cell phone bills. Their idea. $200 basketball shoes. Their idea. $30 late fees. Their idea. $30 NSF fees. Their idea. $20 DVDs. Their idea. Subliminal advertising. Their idea. Brainwash plots on TV. Their idea… Prozac, Zanex, Vioxx, and Celebrex. Their idea. The MASSIVE campaign to turn every American into a brainwashed, credit card, pharmaceutical, love-sick, couch potatoe, celebrity junkie. Their idea. All of the above shrink the middle class, concentrate the world’s wealth and resources, and wreak havok on society. All of which have been CREATED AND ENDORSED by celebrities, athletes, executives, entrepreneurs, attorneys, and politicians. IT MAKES THEM RICHER. So don’t fall for any of their ‘good will’ ‘humanitarian’ BS. ITS A SHAM. NOTHING BUT TAX DEDUCTIBLE PR CRAP. In many cases, the ‘charitable’ contribution is almost entirely offset.. Not to mention the opportunity to plug their name, image, product, and ‘good will’ all at once. IT MAKES THEM RICHER. These filthy pigs even have the nerve to throw a fit and spin up a misleading defense with regard to ‘tax revenue’. ITS A SHAM. THEY SCREWED UP THE EQUATION TO BEGIN WITH. ITS THEIR OWN DAMN FAULT. If the middle and lower classes had a greater share of the pie, they could easily cover a greater share of the federal tax revenue. They are held down in many ways because of greed. Wages remain stagnant for millions because the executives, celebrities, athletes, attorneys, and entrepreneurs, are paid millions. They over-sell, over-charge, under-pay, outsource, cut jobs, and benefits to increase their bottom line. As their profits rise, so do the stock values. Which are owned primarily by the richest 5%. As more United States wealth rises to the top, the middle and lower classes inevitably suffer. This reduces the potential tax reveue drawn from those brackets. At the same time, it wreaks havok on middle and lower class communities and increases the need for financial aid. Not to mention the spike in crime because of it. There is a dominoe effect to consider. So when people forgive the rich for all of the above and then praise them for paying a greater share of the FEDERAL income taxes, its like nails on a chalk board. If these filthy pigs want to be over-paid, then they should be over-taxed as well. Remember: The richest 1% STILL own 1/2 of all United States wealth EVEN AFTER taxes, charity, and PR CRAP. A similar rule applies worldwide. There is nothing anyone can say to justify that. Anyway, there is usually a higher state and local burden on the middle class. They get little or nothing without a local tax increase. Otherwise, the red inks flows like a waterfall. Service cuts and lay-offs follow. Again, because of the OBSCENE distribution of bottom line wealth in this country. I can not accept any theory that our economy would suffer in any way with a more reasonable distribution of wealth. Afterall, it was more reasonable 30 years ago. Before Reaganomics came along. Before GREED became such an epidemic. Before we had an army of over-paid executives, celebrities, athletes, attorneys, investors, entrepreneurs, developers, and sold-out politicians to kiss their asses. As a nation, we were in much better shape. Lower crime rate, more widespread prosperity, stable job market, free and clear assets, lower deficit, ect. Our economy as a whole was much more stable and prosperous for the majority. WITHOUT LOANS FROM CHINA. Now, we have a more obscene distribution of bottom line wealth than ever before. We have a sold-out government, crumbling infrastructure, energy crisis, home forclosure epidemic, 13 figure national deficit, and 12 figure annual shortfall. ALL BECAUSE OF GREED. Bottom line: The richest 1% will soon tank the largest economy in the world. It will be like nothing we’ve ever seen before. and thats just the beginning. Greed will eventually tank every major economy in the world. Causing millions to suffer and die. Oprah, Angelina, Brad, Bono, and Bill are not part of the solution.. They are part of the problem. THERE IS NO SUCH THING AS A MULTI-MILLIONAIRE HUMANITARIAN. EXTREME WEALTH HAS MADE WORLD PROSPERITY ABSOLUTELY IMPOSSIBLE. WITHOUT WORLD PROSPERITY, THERE WILL NEVER BE WORLD PEACE OR ANYTHING EVEN CLOSE. GREED KILLS. IT WILL BE OUR DOWNFALL. Of course, the rich will throw a fit and call me a madman. Of course, their ignorant fans will do the same. You have to expect that. But I speak the truth. If you don’t believe me, then copy this entry and run it by any professor of economics or socio-economics. Then tell a friend. Call the local radio station. Re-post this entry or put it in your own words. Be one of the first to predict the worst economic and cultural crisis of all time and explain its cause. WE ARE IN BIG TROUBLE.
You do make some good points. I know our area is kind of lkie a counter culture as well as on the economy. I know we are lowering taxes as a state and on the local level. Hopefully we can attract some people from California. You can still get a home here for 200k, the jobs pay less but its not that much less.
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That has to be the longest comment in blogging history… enjoy.
Wow – Benn I had to see that for myself – thought you guys had launched a blog within a blog!
So, um Benn…. you’re saying that you’re upset that Brett Farve retired?
I am a huge fan of rhetoric and expression. This a great rant and honestly, I think you should repost it in and of itself. Well thought out op ed!
Thanks so much for sharing and maintain this venue.
Lani,
>How telling that California has its own special little breakdown.
I don’t think it did. Just in the way it was copied. If you go to the USA Today page, all states Metros are evaluated: http://urltea.com/2wgk
Great commentary!
Can see signs in Minnesota that feel like a recession. part of it is the attitude people have about money, they are not spending it.
Coming to you from a golf capital Florida here and I see we are in a recession. Florida has always had problems and it seems to be the SW Florida area and parts of Miami that have been hit with luxury home foreclosures while other areas of the state seem to be median homes. Alot has to do local economy, jobs, lending practices.
This is actually a great opportunity for many to buy first time and retire to Florida. The smart people are investing becasue they know this area is secure and will rebound. We have our tourist industry, fruit industry, fishing, cattle and many medical companies are relocating business for cheaper commercial property and opening many new job markets.
I see this as a good thing and just an off shut of a 3 year boom in Florida that many got wrapped up in that could not afford the first ARM bump and should not have been sold it to begin with. I am not in favor of bailouts either. There are plenty of people to buy these homes and as soon as consumer confidence is restored I thing you will see a turn around.
Someone get “Messenger” his/her own blog…wow!
My blog is about to celebrate its three year birthday later this month (No gifts, please.) Michigan’s recession started later, I think. Maybe if I had started blogging earlier, we wouldn’t have had a recession. Now I feel guilty!