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How is the market? Housing Market Drives Our Economy – The Ukiah Daily Journal

I recently spoke to my friend Mark Pardini who owns Pardini Appliance. He mentioned that his business slowed in 2008 when the real estate market collapsed, and when the real estate market recovered, his business picked up again. It got me thinking how many people in this valley depend on a healthy housing market.

When people decide to sell their home, an extensive exchange of goods and services begins. Sellers usually start the home sale process with renovating their property, which can include calls to local artisans – painters, plumbers, and handyman to mend things. Vendors also visit places like Mendo Mill or Friedman’s for tools for do-it-yourself projects and flowers to add curb appeal.

Once the house hits the market, everyone in the real estate business is busy: brokers, lenders, inspectors, pest and fungus experts, contractors, trustees, title officials, county employees, and others.

If the house is sold, the new owners make it their own by buying furniture, home appliances, and consumer electronics. In a recent news article, Best Buy CEO Corie Barry said the hot housing market was one of the main drivers of the company’s strong sales in the first quarter of this year. It makes sense, of course. When you update a bit of technology, you almost always have to update everything that comes with it. Computers, smart devices, WiFi-based surround sound home entertainment, and Internet-based security systems all require connected devices that can communicate with each other.

When people feel settled in a new home, buying doesn’t stop. At this point, people often purchase pets and all of the goods and services that come with new pet ownership – veterinary care, grooming, food, toys, bedding, and more. Every purchase of a good or service helps companies to be successful. A healthy housing market means a healthy local economy, with many goods and services changing hands, and this is just one way that a strong housing market supports the local economy.

When we have enough housing for everyone who wants it, local businesses can hire better qualified professionals to meet community needs – doctors, teachers, law enforcement officers, seasoned executives, and more. In recent years, the hospital has made recruitment one of its strategic goals. Yet when the Paradise Fire put dozens of skilled medical professionals out of work, Adventist Health couldn’t hire them here because we didn’t have a place to live. Around the same time, Mendocino County tried to hire a local cannabis tsar, but that person refused to accept the job because they could not find an apartment either. When people cannot find adequate housing, our community suffers.

We continue to have a severe housing shortage in the Ukiah Valley. If we made it easier and more profitable for builders to build houses here, not only would we be able to recruit skilled workers for our community, but our schools would benefit from school development fees and our fire departments would benefit from fire exposure fees.

The pandemic has changed the way many companies view remote working so that people can move from populous cities to beautiful places like our valley. It would be great to have enough housing to accommodate new community members who would bring their purchasing power to local businesses and their friendly faces to our neighborhoods.

If you have any questions about property management or real estate, please contact me at [email protected] or by phone at (707) 462-4000. If you have an idea for a future column let me know and when I use it I’ll send you a $ 25 gift certificate to Schat’s Bakery. To see previous articles, visit www.selzerrealty.com and click “What’s the Market”.

Dick Selzer is a real estate agent who has been in business for more than 45 years.

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