It’s the housing market, too.
Somehow, this article slipped through the cracks here at 3BP when it was published late last week in the Toledo Blade:
Ohio’s housing market softened in September while home resales nationwide saw their largest monthly increase in 26 years.
The National Association of Realtors says U.S. sales of existing homes reached their strongest pace in two years, jumping 9.4 percent from August to September.
In Ohio, 9,740 existing and new homes sold last month. The Ohio Association of Realtors says sales were down 1.7 percent from August and down 6.3 percent from the September 2008 level.
Once again, Ohio bucks the trend and instead goes ever downward while the country goes the opposite direction.
So why would Ohio go in such a drastically opposite direction than the rest of the country when it comes to home purchases?
Here’s a hint. It rhymes with Prain Main.
Yep, the brain drain phenomena that is shaking Ohio rears its ugly head once again – this time in the housing market. The labor force is running for the border, and taking their mortgage applications with them.
Buckeyes, you have a year and a week before you can show Ted Strickland what you really think of his job as Governor.
If there will be any of you left.