Monday, June 16, 2008
Mid June Activity Report Cleveland Ohio
The real estate market took a slight slide the last few weeks. It is my opinion that the current gas prices are starting to take its toll on the general population. Showing activity is down. Even new listing activity is down. Nationally there was a slight spike in new construction prices. Again I think this is due to the gas prices and higher cost of materials. The spike in new construction prices isn't a sign of things looking up, maybe more bleak. In the beginning of the year I thought we were set for a rebound, this slight drop has me concerned that we are in for a far bigger set back then the economist predicted. The suburbs are stabilizing but the urban and first suburbs are feeling real pain in pricing. Maybe it is time for radical change. Maybe this Moral majority should step aside and let them build a few Casinos in Ohio. Redevelop our downtown lake front with some fancy Casinos and Hotels and shops. The flats could be a fabulous condo community with riverfront boat docks with restaurants.
Our goal should be to make Cleveland a convention stop. Gambling is the only way to compete with New Orleans,San Francisco,Orlando, and Hawaii, we have to utilize our assets. Then and only then will we start to see a real rebound.