Friday, October 26, 2012

Morgan County to be hit hard by Obama military cuts

Defense Department could cost 89,000 civilian employees their jobs!
Rep. Randy Forbes, R-Va., chairman of the House Armed Services subcommittee on readiness, said Thursday at a hearing that the estimate is based on an 11.3 percent cut across all Defense Department accounts, except for military personnel, which he assumes would likely be exempted from cuts. The budget cuts would be required by sequestration, which are automatic cuts that would be triggered Jan. 2 if a long-term budget-cutting deal is not struck.
Homeownership drops in Ohio, Dayton region
The decline is directly related to foreclosures and sub-prime lending, says housing official.
By Ken McCall
Staff Writer

The effects of the housing crash are clearly visible in new census data for Ohio and the region.

The homeownership rate declined from 2000 in Ohio and in almost every city in the Dayton region, according to data released today from the 2010 census.

In 2010, 67.6 percent of homes in Ohio are occupied by their owners. That’s a decrease of 1.5 percent from 2000. The rates also declined in all but six of the larger cities and villages in Dayton’s eight-county region.

“It’s directly tied to the mortgage fiasco, the sub-prime lending fiasco and the foreclosure boom of the last decade,” said Bill Faith, executive director of the Coalition on Homelessness and Housing in Ohio. “It drove people out of homeownership in large numbers. I mean, you have 80,000-plus foreclosures every year, it starts to have an impact.”

The Miami Valley as a whole also saw a loss of 1.2 percentage points in the share of owner-occupied homes during the last decade. The homeownership rate dropped to 68.6 percent for the region and would have been larger without Warren County, the only county that didn’t decline.

The city in the region that showed the largest drop in the homeownership rate was, surprisingly, Beavercreek, which was one of the cities that saw the most population growth during the last decade.

Despite the growth, the Greene County suburb saw a decrease of more than 10 percentage points from 2000 to April 1, 2010, when the census was taken.

While the city added almost 1,600 new owner-occupied homes, it also added 2,533 rentals, causing the homeownership share to drop to 74.1 percent. That’s still greater than most of the cities in the region, however.

Morgan County to be hit hard by Obama military cuts
Population in 2010: 1,821. Population change since 2000: -72.6%
Males: 1,023 (56.2%)
Females: 798 (43.8%)

Median resident age: 24.0 years
Ohio median age: 39.3 years
Zip codes: 45433.
Estimated median household income in 2009: $52,976 (it was $43,342 in 2000)
Wright-Patterson AFB:


Estimated per capita income in 2009: $19,535

Wright-Patterson AFB CDP income, earnings, and wages data

Estimated median house or condo value in 2009: $50,563 (it was $39,200 in 2000)
Wright-Patterson AFB:


Mean prices in 2009: All housing units: $95,991; Detached houses: $165,409; Townhouses or other attached units: $157,999; In 3-to-4-unit structures: $272,652; In 5-or-more-unit structures: $94,519; Mobile homes: $27,678

Median gross rent in 2009: $1,036.
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Jeff McGrath, Beavercreek’s planning director, said many of the new rentals are likely single-family homes that are owned by military people who had to move, but were caught in the housing slump.

“Military families, or anybody who comes in and out of the community for a short period of time and buys a home, was hit by the economic downturn,” McGrath said. “They have to get out in a timely basis, and they don’t want to sell their property at a loss, so they’ll rent it out and wait for the market to rebound.”

McGrath said he’s not worried about the increase in rentals. The city’s housing mix, he said, is “pretty well-balanced and should be sustainable over time to keep occupancy rates and rent rates high.”

The city of Riverside had the second-highest decline in homeownership, falling 9.1 percentage points to 57.0 percent, but officials there said they’re rather have them rented than vacant.

“Our abandoned and vacant homes are the critical point to us,” said Robert Murray, Riverside’s director of planning and economic development. “That’s effected us severely. We’re still cleaning up the mess.”

Mayor Bill Flaute said he’d rather see homebuyers want to live in the city, but hasn’t seen or heard of significant problems with rentals in Riverside, also near Wright-Patterson Air Force Base.

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