why are so many people moving from michigan? houses are popping up all over? should I stay or leave? or should I buy a cheap house? Im living in an apt at the moment! my kids are off to college and im free as a bird not knwing which way to go now! I have lots on my mind i want to make sure I make the right move!
too many are leaving michigan now something is up! but what??
2007-09-24 04:40:50 · 4 answers · asked by toenail 2 in Business & Finance ➔ Renting & Real Estate
well with the job losses the foreclosure rate is higher. people cant afford their mortgages anymore so they have to move. it will probably work itself out in the future but that could take a couple years. Its a great time to buy. Prices are down and they will raise again when the market picks back up. Good luck hope this helped
2007-09-24 04:56:21 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Many are leaving Michigan because so much of the economy of the State is dependent on the US auto industry and the peripheral businesses that are related to it. As the US auto companies were unwilling to meet the competition from Japan and Korea regarding smaller cars, higher gas milleage, hybrids, safety factors, and longevity of the vehicles, they lost market share. This is a long term problem that they will not be able to turn around quickly.
Therefore, if people have not been laid off yet, they are anticipating it. Or perhaps the factory has closed and there are no other jobs available.
This is a very sad situation and people are leaving to support their families and try to find jobs.
The other reason is more subtle. Baby boomers are in, or entering, their retirement years and would prefer to live in warmer climates. They are moving to the southwest and the southeast where they can find more affordable housing and alternatives to single family housing with others in their age group. Also many of these areas have excellent medical services available to them in addition to a sense of community.
So why are you staying?
2007-09-24 12:00:39 · answer #2 · answered by Christiane 3 · 0⤊ 0⤋
Weather and economy.
If you are planning on staying, sure buy a house. But if your wings may carry you a different direction, you may want to hold off buying a house. It could be tough to resell until things improve there.
2007-09-24 12:22:37 · answer #3 · answered by godged 7 · 0⤊ 0⤋
Well could be Not many jobs ,
Place is loosing jobs or maybe
Jobs are harder to find ?
( I think it is called the rust belt for a reason )
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2007-09-24 11:46:33 · answer #4 · answered by kate 7 · 0⤊ 0⤋