Economic development agencies want to attract businesses and skilled workers to their metros, and a healthy, affordable housing market is an important consideration for entities considering relocation. To this end, if you have a strong understanding of the bright spots and challenges present in local housing markets, you can position your city advantageously in this type of competitive environment.
With the Housing Tides Index you can compare housing statistics against other nearby cities and empower leaders to identify advantages and advocate for your metro. Conversely, the comprehensive assessment supported by Tides allows leaders to recognize risks and weaknesses and support affordable housing initiatives where needed. In the Housing Tides Index, you get a concise and accessible way to track the economic indicators that affect the quality of life in each metro area. Employment data on things like job gains, unemployment rates and labor force participation give advance information about wage growth and demand for public services, while housing inventory and rental vacancy help policy makers gauge the availability and cost of housing for new workers. If you perform your own analyses, Housing Tides provides a meaningful cross-check of your own data and conclusions.
The Tides housing permit tracking and predictions also serve to measure the effectiveness of policies that aim to increase residential construction. For instance, take a metro area that suffers from poor housing affordability. With Tides, an economic development entity can identify the problem and assess whether current construction totals will help the problem. The next step is to estimate whether relief is the horizon by reviewing local construction forecasts, and act accordingly.
Knowledge of media coverage is also vital for economic development agencies, since you need to mitigate the effects of critical media coverage and invite favorable coverage. Media provides an important avenue for people to voice their opinions, and economic development professionals can better serve their communities with better understanding of ongoing housing conversations and issues affecting renters and homeowners.
As an economic development professional, you need to position your city or region for growth and success.
Housing Tides is the best way to gain a holistic understanding of local housing data, construction predictions and media analysis.
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