I don’t think there’s a bigger cheerleader for Peoria than Economic Development Director Craig Hullinger. He’s trying to reach people through every method possible; he’s even using Blogger to set up a pseudo-blog for the Economic Development department. Now, he’s started directly e-mailing the media, including bloggers, with good economic news about Peoria. Here’s what he had to say:
The median home price rose in 10.4% in Peoria in the 1st Quarter of 2008, compared to the first quarter of 2007, according to USA Today on May 14, 2008.
Peoria had the second highest growth rate in the country, according to the article, which used data collected by the National Association of Realtors.
Nationally, the median home price fell 7.7% over the same period.
Thanks to all who helped make our economy so vibrant. Keep investing.
Now, if we could just get more mixed use development underway in the Heart of Peoria in the Warehouse District, Renaissance Park, and the Rivefront.
A great opportunity out there to start up the Heart of Peoria Development Corporation. Raise capital to make strategic investments in the City. Take advantage of the great Enterprise Zone, TIF, and historic tax credit incentives. Do well while doing good.
Keep the upbeat and positive news coming, Mr. Hullinger.
All that means is that the higher end of the market is doing well. I think those of more modest means are getting squeezed in various ways. This isn’t surprising considering how well the Hospitals and Caterpillar are doing.
all it means are that homes are less affordable for most people. Tell me how that’s good news?
Some will find something negative in anything. Welcome to Peoria Illinois.
Did you get a 10.4% raise this year, “Peoriafan”? Unless you are a state legislator or some other high-level “public servant”, I’d bet not. Very few working people, and far fewer retired people, got anything approaching that. So, my conclusion is, homes are less affordable for most people. I could have added that if the value went up, so did homeowners’ taxes. Only people who sell their homes and move to a lower-priced area make any money. If you aren’t selling and getting out, how do higher prices help anyone but the tax man and the realtors?
It doesn’t mean homes are less affordable. That figure only shows the homes that sold not the ones still sitting out there on the market. There are lots of lower end homes for sale but the people who would be buying them can’t get the financing due to the credit crunch or can’t afford it due to inflation.
You have a point Mahko, but if you can’t get financing and can’t afford the houses that are for sale, that’s part of a market that’s less affordable. Think about it, if rising home prices are good, we should really be celebrating rising food prices. Farmers are making more money, and that, presumably cuts govt. ag expenses. So, let’s all celebrate rising food prices!
That’s it! I’ve had enough. I am nauseated by the nasty hateful whining on these blog comment sections. There is no good news to you people. Your like the Roman mob calling for the kill. You feast on negativity — you’re that rotten-faced, ill-manured person no one wants to talk to at parties. Blah!
CJ, love the posts, but I’ve read my last comment on this or any other local blog.
Later.
BlogReader….. what a change? Start your own….. let us know your url so we can read all your upbeat information. It might be a refreshing change… put your keypad where your mouth is!