8000 jobs assuming at least 4000 people leaving Michigan [I would]
Would that bring 4000 house to market in tri County?
10 replies (most recent on top)
OP is assuming that most people own and not rent their homes. After the real estate crash of 2008 many people did not go back to being home owners but became renters for life. I know several of them.
Linkedin shows 391 new Ford Motor Company jobs posted in the last 5 days.
Move CA. Good luck. lol
Dearborn has been re-inventing itself for years. Tear down the old and build mega multi generational family homes. So much that the garages are being converted to living spaces to the dismay of the local authorities. I recall the day Mark Fields announced the engineering campus updates. It is too bad that was put on the back burner with the announcement of the purchase of the Train Station and then Covid hit. Then we had to weather the storm with Hackett and watch the transfer of power to Farley. My email has been dead but mark my words... The retirement announcements will soon fill my inbox once the good start leaving...Hau is only the tip of the iceburg.
It like the perfect storm..
75% of EVs are moving to south. 30-35% reduced number of people than ICE. First time in 10 yrs, people migrated out of MI this year. in 5 to 8 yrs from now, 20% less number of people employed in M. Already most new grads don't want to stay in MI; real estate in MI is bound to drop in the next few years.
@OP,
Your post is ridiculous. Your ASSUMING everyone cut will sell their house. Ford is not the only employer in Michigan. Simply just moving out of Michigan will not make a person a qualified for a job outside of automotive or outside of their engineering discipline . Good Luck lol.
with all this transformation to EV other than Ford how does this impact the supply base?
Manufacturing and their suppliers too.
There are some many factors at play in the housing market other than Ford layoffs. It would b a small factor IMO
@OP. I am not sure of the 4000 number. If that's the right number of new houses in the market, well, prices should come down.
Either way, the prices in MI, specially nearby Dearborn, have not gone up that much (compared to other regions). I am glad I sold when I could.
Blackrock and Vanguard will be there gobbling up that real estate. So much is wrong in this country.
4000 houses is a drop in the bucket. Will not make a difference...