Why is the Northern Michigan Real Estate Market So Bad?

How many people does not know why the northern Michigan recreational real estate market is bad?  Forget about gas prices.  Gas prices are relative to how much people make, so if everyone is making great money, gas is not the root of the problem.  Yes, it is the automotive industry.  Many of the factory workers blame management for now revolutionizing the industry such as the foreign car makers have.  Well, I blame management for now firing all of these low-skilled workers and hiring new ones at minimum wage!  Unions and attorney are killing this country and this is just another example of how it is effecting the rest of us indirectly. 

How can someone make $25 per hour on a job that takes them a week or two to learn?  Why did I have to go to college and earn a Master's degree to teach to make $15 per hour?  Here is how all of this relates to REAL ESTATE.  Now we have foreign markets destroying American markets because many of the lucky unskilled labor has been cashing in for generations.  America has built businesses around the needs of this "false economy" or should I say a economy about to fall.  If we don't lower minimum wage or get rid of it all together, we'll never compete in the global market.

Now, real estate investors and owners will have to get use to the adjustment of the value of recreational property.  This admjustment is already taking place, but will not come into full effect for another 10+ years.  I personally have 10 pieces of property left in northern Michigan I can wait to sell because of this unavoidable fact.  Luck for me that we have a good 10 years of a bubble for those people who have "cashed in" and have made their money.  Unfortunately for the rest of the state who have not made their money, look out! 

Jamie Gwilliam 

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