Some geographic areas are placing more of an emphasis on “growing” jobs while others place an emphasis on developing more places to live which are affordable housing. The below linked article about efforts within Texas to increase and attract workers for manufacturing plants provides plenty of interesting research. It shows that Texas is currently ranked sixth nationally in manufacturing job growth, which would seem to indicate a demand for employees that relocate from other states and regions.
However, the research also shows that housing costs for employees looking at living within reasonable proximity of expanding manufacturing facilities are too high to make a move worthwhile. Manufacturing plants do not control housing prices, and it’s not as though current homeowners would wish to reduce housing costs. These are problems without easy solutions.
As many of my valued clients, students, and connections know, a huge part of marketing for real estate is about developing solutions to best serve your clients. Many brokers and investors wait for “someone” to bring them potentially strong deals ahead of working on creating them. Doing your homework should not always be confined to running the numbers strictly for the real estate considerations.
Potential home sellers (whether interested in selling, already listed, or who have not been approached with an innovative solution) know what amount they need or expect in order to move the needle. Some need plenty of money up front, while others could benefit from strong monthly payments.
It is possible that people willing to relocate for a job would want to rent for six months or one year to get a feel for the job and the neighborhood before committing to purchasing, whether they can afford it or not. If you don’t know about specific situations which are or may be available, you don’t have solutions to offer.
A few years back, a connection of mine took over a 4-bedroom house following a divorce (grown children no longer living there) and was by himself, wanting to stay in “his” house. He was able to rent the other three bedrooms to three women that came to the United States from Asia on a 6-month work visa. The three were each employed at the same place, and the house was convenient to the bus stop. Everybody involved “won” in this situation. The three women had below-market rent in a convenient location, and the owner had steady income which allowed him to stay in his house, covering maintenance and property tax expenses. (He also had his tenants cooking Asian meals for him, but that’s not related to the story.)
By the end of the six months, he knew the company which hired people on visas from other countries and had recommendations to go along with it. His divorce and the work visas for the women each had zero to with the then current real estate market. It was his solution, which happened to involve his home, that led to the success story.
While you continue with your job, my team and I can be helping your team and you to develop beneficial solutions. Being “first in” on opportunities starts with doing your research!
https://trerc.tamu.edu/blog/texas-manufacturing-needs-power-people/
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