Will the housing market in Columbus remain "on fire"?

[Steven J. Umaña]

All, 

I currently own a duplex and a single family home in Columbus. As I make renovations to increase rents, I can't help but wonder whether we are heading for a crash in the market. With the transportation grant from the Feds, the new ENORMOUS metro park development on the West side, and downtown sprawling out further and further, it seems as if we are heading toward continue prosperity in real estate prices for some time to come. 

Can anyone think of ANYTHING that could hurt this market???? Asking for a paranoid friend....

Steve

[Joshua Dawson]

Steve, I've had many conversations over the last few months about this very topic. Minus a global economic collapse that none of us can predict, I don't see this market changing. A few reasons:

• new constructions is half of what it was at its peak in the mid 1990's creating a scarce of inventory
• central Ohio economy is booming (you can pick up the Dispatch and read about it on a daily basis)
• central Ohio population set to increase by 1 million by 2050 (already largest city in Ohio, and 14th largest in nation)
• Columbus #3 city in country for percentage of population in millennial age group
• Columbus #1 fastest growing city for millennial population age group

In short, economy is strong, and homes like the ones you own aren't being constructed at a rate to even put a dent in demand.

It's a good time to own property here and to acquire it!