Business and government leaders in three West Michigan communities had the same idea: to bring together local experts and figure out how to turn around the local housing slump. By working together to increase home sales, the groups aim to lead the region's economy out of the recession.
According to excerpts from the story:
Through the summer, three groups of community leaders and business people in West Michigan came to the same conclusion: In these hard times, it takes a village to sell a house. For months, people have been waiting for federal stimulus programs to kick in and ignite the sluggish economy, especially the housing market, suffocating under foreclosures and plunging prices.
While sales are showing signs of life -- six straight months of year-over-year increases -- the impatience of waiting for a full recovery spurred local groups to take up the cause:
• In Holland, where area home sales sank 12 percent from 2006 to 2008, the Chamber of Commerce began brainstorming on a possible local stimulus package for housing.
• In Grand Haven, where area sales fell 21 percent in the same period, the mayor called in lenders and real estate agents to hear concerns. The group will take those to legislators and editorial boards at another meeting this week.
• In Grand Rapids, where area sales fell 18 percent, the Grand Rapids Association of Realtors created a task force to form "strategic relations" to benefit the housing market. That the efforts were made independently and none of the groups was aware of the other reveals a communal desire emerging to work together for economic benefit.
Read the complete story here.
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