Ozaukee County WI Repo Homes
Dec 2, 2009 | Filed under Repo Homes | Comments (0)
With Ozaukee County being such a small county, the principal industrial trends have a significant and speedy impact on how many homes in Ozaukee County have been repossessed over the recent months. The most profitable industrial sector in Ozaukee County is manufacturing. Manufacturing employs around 11,000 people and has an estimated $2.5 million value in shipments.
The manufacturing sector can be broken down more specifically into plastics and rubber being the smallest moving up to the largest being fabricated metal (of which there are 49 separate establishments employing 1,669 people). Knowing this we can more accurately track why there has been such an increase in the number of Ozaukee wisconsin repo homes.
Another large contributor to the local economy is employment in the provision of professional services and technical services such as law, accounting, architectural engineering and management consultancy. When a recession looms, these service industries are considered a luxury that cannot be afforded. When a company may, in boom time consider employing a management consultant to refine business practice, this would not be the case in a recession, or credit squeeze.
The manufacturing industry has been hit particularly hard by the recent credit crunch and this has resulted in a significant drop in employment growth. Growth in the county last year was listed as 0.7% whereas to the third quarter this year it is at a staggering -34%. This is not out the ordinary in comparison to the neighboring counties, when seen in such dramatically clear terms, this is a clear indicator explaining the increase in the number of Ozaukee County WI repo homes available on the market.
Statistics are all relative, and although the seven county area surrounding Milwaukee has seen a huge increase in foreclosures, with Milwaukee experiencing the most; Ozaukee County WI repo homes have actually reduced in the month of September. It also seems that the housing prices decreased that have hitherto been seen in the area are slowing down, with an actual small increase being seen in Ozaukee County in September.
So perhaps the underlying wealth in Ozaukee County is sustaining the market and the traditionally white collar inhabitants have wisely tightened their purse strings sufficiently to avoid being hit as hard as the surrounding counties. What remains to be seen is if they have the economic strength and resilience to remain buoyant for the remainder of the recession that is now accepted as being in place.
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