Ohio real estate is still struggling. The market isn’t likely to really ever completely recover to its original state, just like the rest of the country. Markets change as they recover and move forward. Does this mean you shouldn’t invest in OH real estate? Not necessarily, but it would help to know 9 reasons why you can look at the real estate market in OH as an indicator and cause of the recession.
Reasons Why The Real Estate Market In Ohio
Did Ohio real estate cause the recession entirely? Of course not, but let’s unpack these 9 reasons why the real estate market in Ohio did contribute to and indicate the recession was coming. Think about what has happened to manufacturing jobs in Ohio and throughout the Rust Belt. The problems with wages in Ohio started making problems for the state well ahead of the housing market crisis and the recession.
Ecnomic Recession Ohio
In fact, the experts point to the fact that Ohio had its own economic recession around the turn of the century. That was only 17 years ago, but Y2K now seems like forever ago, wouldn’t you agree? Economically and technologically speaking, it was forever ago, and that is how long the people of Ohio have had problems with wages and real estate investments.
Sure, the market has recovered some since 2001, but then it got hit again after the housing market crisis. With the job market suffering in Ohio, too, that is a bad combination. Of course, if you have a secure job and can buy real estate in Ohio at rock bottom prices, wouldn’t that make for a good investment? It could, and Ohio real estate in some areas is of course red hot. You can’t paint an entire state with a blanket statement, but we are looking closely at the recession, the housing market crisis and Ohio’s struggles in general and how they might have contributed to the overall national recession.
Just think what is the best company for a new real estate agent in columbus ohio and about how people look at Ohio when it comes to the Presidential election. The way Ohio swings towards a candidate is usually a good indicator as to how the nation votes altogether. Ohio is a swing state. It is also part of the Rust Belt as mentioned, and just taking a look around shows you how industries have changed in America. Will people keep flocking to Ohio, or is Ohio leading the rest of the country, showing how the landscape is being reshaped, markets purged and real estate forever changed?