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| By Jeff Sherman OnMilwaukee.com Staff Writer E-mail author | Author bio More articles by Jeff Sherman |
| Published April 8, 2008 at 10:01 a.m. |
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I'm sick and tired of people saying things like "who are the people buying all these Downtown condos?, "why are they building so many?" and, even worse, "who can afford to live Downtown?' Please, people, put a sock in it and study the data and take a look around.
Downtown has been my home for more than 20 years, essentially all of my adult life. It's affordable, vibrant, easy and, like many suburban areas, seemingly ever-growing. Yet, too many people, because Downtown homes are still a rather new notion in Milwaukee, think there's some type of irrational exuberance and crazy, ill-advised building boon happening. Not true. Simply, not true.
In fact, just last month on these pages an expert talked upbeat about Milwaukee and the Chicago Tribune also proclaimed in a headline that "Milwaukee's (the) only ray of data light." I'll explain. Actually, I'll let Mary Umberger's Tribune column explain, "... the Milwaukee market appears to be holding its ground, in terms of prices. Sales were down about 11 percent last year, but prices didn't sink into negative territory, according to one new report. The RPX monthly housing report said Milwaukee was one of just four areas in a survey of 25 where prices -- at least on a per-square-foot basis -- had increased in the last year."
She continues, "the report said (Milwaukee's) residential property prices were up about 5 percent, topping the Wisconsin Association of Realtors' findings that showed Milwaukee County prices up 1.8 percent last year. Chicago's metro prices, on the other hand, declined 4.3 percent in the period, the report said."
So, there you have it. The media and public reaction to housing fluctuations are never quite as bad or as good as they seem. Life, though, as a homeowner in Downtown Milwaukee is, for now, very good.
Are there projects that are struggling? Sure. There are suburban subdivisions and neighborhoods in other areas that are struggling, too.
Are there open condo units one the market? Sure. But, there also are homes all over Milwaukee County sitting unsold. Reality is that you can buy a nice home in Downtown for $100,000 or $2 million. Search MLS, there's variety aplenty.
Overall, Downtown is growing and more than 2,000 units are currently in the construction stage. Success begets success.
Because Downtown is so important to the city and state's vitality, it will and must continue to balance competing interests for housing, business, retail and entertainment uses, and resolve issues of transportation and tourism. It's happening, and I'm thrilled to be a part of it.
But, I ask that you stop using terms like "saturation," "over developed" and "too expensive" when talking about our Downtown. Percpetion can hurt reality. This request goes out to radio talk show hosts, too. Many love to rip Downtown. Not sure why, but that's another topic. I ask, rather, that you tour or buy a home Downtown or just go Downtown on a weekly basis. You'll see there is life, energy, opportunity and a ton of room for growth.
Don't' believe me? Just study the data.
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21 comments about this article. Post a comment / write a review. |
Posted by kmk on April 17, 2008 at 10:43 a.m. (report)
One Great reason to avoid the burbs: BORING. Enough said.
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Posted by patrickm1964 on April 9, 2008 at 10:57 a.m. (report)
Spent 27 years in the Milwaukee suburbs (Waukesha County) and now nearly 20 in the city. My wife and I have had discussions about either moving back to the burbs (want of more land, bigger house) or downtown/eastside. We both agreed on the following: crime concerns about the city are incredibly exaggerated; the diversity of backgrounds and ideas in the city appeals to us; the cultural and entertainment offerings in the burbs are minimal compared to the great offerings in the city; and there is a vibrancy to the city that we simply didn't find in suburban living. in short, we will not be moving back to the burbs. Our next move will be either east side or downtown. We love the city and its people.
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Posted by brunocarlson on April 8, 2008 at 6:41 p.m. (report)
I was born and raised in the 'burbs. I got my first true taste of downtown in college and never looked back. It is great here. I have everything within reach, I work downtown so commuting does not even exist. My family still lives "out there" and will not come to visit me because of the confusing streets, interchange construction, and crime. Bad excuses. I love it here and would not change it for anything.
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Posted by MilwBest on April 8, 2008 at 4:16 p.m. (report)
As a Realtor who specializes in the downtown market, I couldn't agree with you more. Milwaukee's downtown residential development was significantly behind other major metro areas. As we continue to attract businesses downtown, and gas prices remain at these levels, even more people will be calling it home.
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Posted by Myke on April 8, 2008 at 2:55 p.m. (report)
kk (& some others) your remarks about downtown are true,however it may surprise you to learn all these activities u mention are available also in the suburbs.There is no need to rip suburban living to make the point that downtown is a good place.After all pleanty of people prefer the suburbs & that's a stupid reason to look down on them.Grow up please.
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