I’ve been digesting what Dan Meisler wrote in the Ann Arbor Business section on the mlive.com website on March 17th in his piece “Developer Allen says Ann Arbor economic boom coming soon“. The more I chew on what Dan wrote the more I see where he is coming from. I have to say I tend to agree with much of what is stated from both the author and Peter Allen (local Ann Arbor commercial developer and adjunct professor). If you haven’t read Dan’s post you should. In his article, Dan and Peter both identify several key factors why Ann Arbor may be standing at the threshold of a major financial “awakening”.

Are Brighter Days Ahead for Our Ann Arbor Real Estate Market?

Here are few reasons for their optimism (and for mine). These factors will cascade like dominos affecting positively on the Ann Arbor real estate market:

  1. Ann Arbor offers an enviable high standard of living. That makes this area attractive to those looking to relocate to Ann Arbor (especially if high-paying job opportunities exist)
  2. Jobs are always the key that unlocks a local economy. And high paying IT based jobs could be the shot in the arm we need for Ann Arbor and our housing market
  3. Traditionally – university towns are vibrant centers for opportunity. The University of Michigan is another critical piece of the Ann Arbor economic puzzle
  4. University of Michigan research grants could foster “start-ups”. Start-up businesses could potentially catch lightening in a bottle that ignites job opportunities
  5. Transportation is another key component in the economic equation for Ann Arbor. The creation and completion of the East-West Rail Line from Detriot is targeted for completion in 2010 could be the “ticket” to economic expansion in Ann Arbor

Where Do You Believe the Ann Arbor Real Estate Market (And the Ecomony) is Headed?

In closing, are we (meaning the greater Ann Arbor area) in an economic “funk”? Yes! Is some of it due to the way we think? Possibly. If we see Ann Arbor as nothing more than a mole hill, we will be what we think we are. Of course, I’m realistic as well. Will it require the “stars coming into alignment” for our Ann Arbor economy to turn a corner? A little luck never hurt. We can all hope business cycles will repeat themselves and for that reason, I believe better days are ahead for our Ann Arbor real estate market and our overall economic outlook.

Share Your Thougts

So what do you think? Leave a comment and tell us why you feel the way you do.

Your Ann Arbor Real Estate Expert