[Cliffie]

Not long after a horrifying report in the paper about the number of foreclosures in the county -- about 100 per month, and there are only about 150,000 people living here -- I am starting to see things turn around. Several of the units in my complex have sold suddenly, after YEARS of not even a nibble. I am starting to see "Help Wanted" signs everywhere. New buldings are going up on vacant lots, and new stores are opening. Even the guys riding their bikes in the cold because of drunk-driving convictions look more cheerful. People looking for jobs seem a lot less despondent about their chances.

Is anyone else seeing a positive sign anywhere?

[northernguy1960]

Hi Cliffie,

Maybe, just maybe, it's a sign of things to come! Hope so!!!!

Which part of Michigan are you in?

We've been encouraged by what we've been hearing about the Grand Rapids and surrounding areas. Hopefully it is the beginning of diversifying things, so we're not as vulnerable in the future.

Jeri.....Northernguys's better half

[Cliffie]

Originally Posted by northernguy1960

Hi Cliffie,

Maybe, just maybe, it's a sign of things to come! Hope so!!!!

Which part of Michigan are you in?

We've been encouraged by what we've been hearing about the Grand Rapids and surrounding areas. Hopefully it is the beginning of diversifying things, so we're not as vulnerable in the future.

Jeri.....Northernguys's better half

I'm about half an hour north of Ann Arbor. Things have been very tough here after a ridiculous boom. It was like going up in an elevator at 100 mph, then cutting the cable. I have a hope that with diversity creeping into the economy things will even out somewhat.

[jean dixon]

yep, the clouds are lifting, wait nope that was just gas.
Things are not getting better, it was just you hoping against all odds.
Michigan is not going to turn around any time soon. hope all you want

[northernguy1960]

Well, dang, Jean! Silly us for looking for any small signs of improvement. Cliffie must have imagined those new buildings and help wanted signs, probably from the stress and worry over the economy. Thank you for signing up to this site and using your very first post to set us all straight

[northernguy1960]

Hi Cliffie,

I know about where you are; we lived not very far from there before we headed for Phoenix after that cable snapped. And that is exactly what it felt like for sure. Drywall contracting was our bread and butter for many years. We were muddling along best we could and getting by ok, until suddenly it was like someone put the brakes on and everything just ground to a halt.

But like all of the big boom areas, Phoenix's housing market is in free fall. There is a 16 month supply of unsold new homes and foreclosures are going through the roof. They aren't sure how this will effect the job market, but do say that the big employment expansion was tied to the construction boom.

So we are thankful that we did not buy a home here. They are talking double digit drops in prices and in value where we are renting by next year. So while Michigan is getting the worst of it because of our manufacturing and auto job losses, it's all over. Inflation is all over, that's no different here.

We're heading back to Michigan, to the west side of the state. We're going to get whatever jobs we can to pay the bills and then start a new business.

Diversifying is the only way to prevent this from getting so bad again. I think being outside of Ann Arbor, you might see an earlier recovery than other areas. Medical related job growth is part of the hope that things will shift, and of course U of M is a research hospital.

I think one can be realistic about what is going on and still watch signs of improvement. Michigan is still in deep doo-doo, but I believe that it will turn around. The big question is: WHEN?

Jeri

[Steve-o]

Originally Posted by jean dixon

yep, the clouds are lifting, wait nope that was just gas.
Things are not getting better, it was just you hoping against all odds.
Michigan is not going to turn around any time soon. hope all you want

[fosterbrooks]

Hope and faith are fine, but a few buildings going up are not a turn around for a devistated economy.
Units being sold are most likely because of the price falling to super bargin levels.
I am in realestate and have contacts with the state board.
The home sales are not going in a good direction and do not look good in the usa as a whole and we are one of the top states in forclosures.
California,
Florida,
Michigan.
People are still moving out in record numbers and unemployment is very high almost 2x the national avg.
I think hope is fine but it will take more than someone telling me a few buildings are going up to know the economy is turning around, I have found that when you have to ask if the economy is turning around or trying to pick this or that, then it is not.
Kind of like a house on fire, when it is really burning no one has to ask if it is or not, you can see it for your self as it is evident.

[magellan]

Originally Posted by fosterbrooks

Hope and faith are fine, but a few buildings going up are not a turn around for a devistated economy.
Units being sold are most likely because of the price falling to super bargin levels.
I am in realestate and have contacts with the state board.
The home sales are not going in a good direction and do not look good in the usa as a whole and we are one of the top states in forclosures.
California,
Florida,
Michigan.
People are still moving out in record numbers and unemployment is very high almost 2x the national avg.
I think hope is fine but it will take more than someone telling me a few buildings are going up to know the economy is turning around, I have found that when you have to ask if the economy is turning around or trying to pick this or that, then it is not.
Kind of like a house on fire, when it is really burning no one has to ask if it is or not, you can see it for your self as it is evident.

The top ten states for foreclosures are (not in order, they all keep swapping the top spot from one month to the next):

Nevada
California
Florida
Ohio
Illinois
Michigan
Colorado
Georgia
Arizona
Indiana

Michigan actually was one of only a handful of states that saw a decrease in the number of foreclosures in September, FWIW.

Foreclosure Activity Decreases 8 Percent in September According to RealtyTrac(R) U.S. Foreclosure Market Report

And yes, the state overrall has the highest unemployment rate in the country, but looking at metro areas vs. metro areas in other states, there is only a 1 - 2 point difference. Stop crying in your Cheerios and do something about it.

Good posts Cliffie. I especially liked the part about the drunk driving guys on their bikes looking more cheerful.

[Cliffie]

Tell you what, I finally went to the Dept of Labor site and looked at the state's unemployment figures. They are not nearly as bad as I thought. They continue to rise, but very slowly. We are only 3% worse than the country as a whole. At this writing we have only 7.4% unemployment -- and I know that figure means nothing if you are one of the 7.4%. Another way to look at that is to see it as Michigan's workforce being 92.6% employed.