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Cost of housing far outpaces rise in wages - Grand Rapids Business Journal

Grand Rapids Business Journal GRAR says first-time homebuyers especially are struggling in a hot market. Rapids/Kentwood area, and the income needed to be able to afford such a home is about $67,000 per year. Photo by iStock While workers in the Grand Rapids-Wyoming metro area have seen their wages grow by 5.2% over the past six years, the area’s average sale price for a single-family home has increased 64.5% during the same period. According to the Greater Regional Alliance of Realtors, the average home sales price went from $152,274 in January 2015 to $248,170 this January. According to GRAR, 99.6% of single-family homes sold above the list price in January 2021 compared to 96% in January 2015. The average number of days a single-family home was on the market in 2015 was 71, compared to 34 this year.

Michigan s 6-month office ban extension another defeating blow, business groups say

Michigan’s 6-month office ban extension ‘another defeating blow,’ business groups say Updated 11:44 AM; Facebook Share Michigan’s COVID-19 workplace precautions have been extended through Oct. 14, upsetting business groups that hoped workers could soon return to offices. A coalition of business groups called Reopen Michigan Safely describes the move as “bad news for our economy.” The Michigan Occupational Safety and Health Administration, which ultimately answers to Gov. Gretchen Whitmer, makes the rules. “Gov. Whitmer’s inability to find ways to work with job creators to restart our economy is a complete leadership failure that will cause economic pain for Michigan workers for years to come,” said Rich Studley, president and CEO of the Michigan Chamber of Commerce, which is part of Reopen Michigan Safely.

Michigan business leaders want stimulus money spent to drive sustainable growth

Michigan business leaders want stimulus money spent to drive sustainable growth
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