Unemployment and Saline Homes

A review of economic conditions in the Saline area, and the effect it has had on the market for Saline homes and condos. Written by an 18-year veteran of the Saline real estate market.

We’ve been through a lot of economic turmoil in the past five years.  (Original article by Vance Shutes). Let’s take a look at unemployment and Saline homes today.

People who are unemployed generally can’t buy a Saline home or condo.  Another way to put this is that people with jobs buy homes.

The unemployment rate in Michigan is one of the highest in the nation, even after having improved a lot in the past year.  Ann Arbor has always been “somewhat” immune to the recessionary impact on job loss (with many thanks to the University of Michigan). With Ann Arbor as our nearest “big city” neighbor where unemployment rates are tracked, let’s take a look at the unemployment rate in Ann Arbor, Michigan, and the Nation:

This chart, from the “Department of Numbers” website, shows that we were in a recession during 2009 and much of 2010.  That seems about right, as we were feeling a bit more confident in the Saline area last year (2011), and definitely more so now in 2012.  There are still a lot of people going through hard times, but their numbers are diminishing – and that’s a really good thing!

The bottom line?

People with jobs buy homes.

And now you know the relationship between unemployment and Saline homes.

Saline is a great place to live, with great access to the freeways to Detroit, Jackson, Brighton, and beyond (via Metro Airport), which is only about a half-hour away.

At Mill Pond Park, you can picnic, fish, take your dog for a run, or sled in the winter.

In Saline, you’ll find Dan’s Downtown Tavern, Mac’s Acadian Grill, Brecon Grille, Mangiamo, and the Saline Inn.

Ann Arbor is only 10-minutes away, where you’ll find the University of Michigan campus, Briarwood mall, Hill Auditorium (for World-class musical performances), and the Ann Arbor Art Fairs in the summer.

If you have questions about your specific situation, or if you’re considering buying or selling any Saline real estate, you owe it to yourself to take advantage of my experience in the Saline market.  I’d be happy to meet with you!  Just give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate (dot) com”.

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