Here’s an excerpt from a great article about West Michigan’s economic recovery published last week in Rapid Growth GR.
Here’s the follow-up article about wages, which suggests an across-the-board wage increase to invest in our local economy.
“Household income is up, nearly 10% in the last year alone. We’re almost caught up to the national average in household income. But apparently that’s not good enough for local pundits.
“Home sales in the Grand Rapids area are at a record high. Homes (listings) on the local real estate market are at an all time low, at about 2.9 months of inventory (ask your Realtor what that means). We’ll give you a hint: homes priced competitively are being snatched up at a breakneck pace. Homebuilders are seeing a pace of construction they haven’t seen in about 6 or 7 years. But apparently still not good enough.
“Apartments in the Grand Rapids metro area are, according to many sources, going on waiting lists. Downtown developer 616 Development has reported that they have close to 800 people on a waiting list for the 50 or so apartments they have under development. Suburban apartment complexes are reporting similar situations. Still not good enough.”