Missy - We are in the same boat here in Indiana! There are new jobs being created, a few new automotive plants - none in the Indianapolis area. I hope to see our area pick up late next year. We have the new airport opening the end of 2008 which will create some jobs. The city is looking to bring new businesses to the area - downtown and the surrounding area is undergoing some revitalization. Good things happening - our biggest obstacle to homeownership is the lack of reform or relief in Property Taxes.

Missy - I have been a long time follower of the Auto industry, and it has amazed me for years and years how the people at the big 3 refused to pull their heads out of the sand and realize that they had to do something.  They way they have been running things, and refusing to do what needed to be done to be competitive and I don't just mean price wise, I mean product wise is the equivalent of corporate suicide.

Here in North East New Jersey, the economy is very good right now.  We have some towns which though I would not call them sellers markets, things are selling at a healthy clip, then just 5 miles down the road you find towns or 20,000 people or less with 150 or more homes on the market and in the last 90 days 25 or less went under contract, to me that is a ice cold market.  There is one neighborhood where the last 3 sales were all in the 720K to 780K range and now there are 5 homes which are similar to the last 3 sales all priced between 650K and 680K and just sitting, hardly even getting shown according to the listing agents.

Just goes to show that Real Estate is very local.

Jim

Paula, our taxes are so unbelievable in Michigan. On a 200,000 home around 6-7

James, I so agree, it is a dinausaur. It's not like they didn't know in the early 70's right? Opps told my age. Haa

I am afraid that Michigan and that area are in for a long term rebuilding experience.  Michigan needs to figure a way to get some alternative industry running.  Capital investment is not going to the auto industry as long as they can't compete.  Seems to me that diversification is the answer.  That's what made the Northern Virginia economy so dynamic.  High tech rocks here. 

You are so right Lenn, what are they thinking ? All they want to do is raise our taxes. The luxury tax, the business tax and God Forbid a tax on services. Me, hairdressers, all trades, you got it ridiculous !! Tax and Spend.

Missy

I am trying to be optimistic, but we have known we were too dependent on the auto industry for 10 years now and nothing has been done. How much lower do we have to sink?

Terry, when I moved here 25 years ago, I had no idea Michigan was so top heavy in the automotive industry. Even with my dad being a Buick dealer my entire life. The Big 3 need to do something and quit burying their heads in the sand. I heard one of them say recently, " We need to get back to building good cars". Yes that and lots of other things. I think people are leaving here because of the Union control. Just my opinion.

Missy

I agree the unions are part of the problem. There was an article in the Detroit News yesterday about a bus driver with more than 30 accidents and violations and the city couldn't fire her because the union wouldn't allow it. I don't think it matters what the Big 3 decide to do, we need to diversify our economy. They have been sending jobs overseas, so I think we would have this problem even if they weren't having the problems they are. 

Same thing in the schools, Terry. They can't fire tenured teachers. I still maintain one reason Pfizer left was due to the city not letting them cut down a TREE on their property. Oh, well, 24 miles surrounded by reality over here.

Nissan left California and is moving to Nashville, they are widening I65 to give them a ramp! Arms out and very welcoming !!

Missy, In our State, Ca, we are probably in a better situation than Michigan and that is probably because our large state has allowed a variety of industries to grow and also let's not forget Hollywood!!!!

My brother is an electrican on the other side of the state and owns his own business - I know is affected by construction being down--sometimes I don't know how he does it.  We had a meeting in our office today and were creatively figuring out how to team up and sell for a builder for his custome homes--I am quite busy just now but it will be an opportunity to learn more about new construction - and Iknow the ups and downs in this business come and I want to keep creating.

I'm glad your busy, Cathy. I am too finally. Wouldn't you know right at 4th of July?

Mana, Yes you do have Hollywood ! !!