Unfamiliar discount real estate signs are hitting a little too close to home — a coastal NC geographical area which experienced a steep real estate run-up over the last seven years.
According to an analysis by Bill Hitchcock of Hitchcock Realty (10 min 35 sec .wmv), Carteret County is somewhat following the national flatline or decline of real estate valuations and soaring real estate inventories.
This area currently has a 36-month supply of houses on the market, and the development projects continue unabated. Qualified consumers of housing have the advantage in this buyer’s market.
The recent Business Week Online audiocast “YouthQuake” (12 min 23 sec .mp3) analyzes another market—Generation Y voters—and their potential effect on the pending presidential election.
- There are 43 million potential voters between the ages of 18-29. They are called Millennials or Generation Y.
- They are the hyper-connected, “You Tube disaffected.”
- The economics that underpin Gen Y are significant. These “children of the rising Dow” now face the following challenges and uncertainties:
- The average student loan debt is $20K, not to mention credit card debt.
- Out-of-reach housing
- Shift of retirement burden to the individual
- Global discount labor bazaar
- Sky-rocketing cost of health care
- Gen Y’s are post-partisan, transcenders, Third Way—- They brought media and recording industries to their knees; they are often outliers who prefer outsiders.
- In terms of political affiliation, most Gen Y’s are independents, then Democrats, then Republicans.
- Obama was first to understand and cater a message (You Tube video) to this demographic. Others followed suit.
Generation Y wants to upgrade “the system.” Politicians know Generation Y is a hot commodity that could influence the election. At the risk of pandering, presidential hopefuls are actively pursuing these qualified political consumers.
From the Director’s Desk (North Carolina Virtual Public School, 1/18/08):
Enrollment – NCVPS has now shattered the 6,287 student mark with 169 sections going live on 1/22/08. NCVPS has surpassed the Fall 2007 enrollment as well. Thanks to all of the LEAs for helping us achieve these benchmarks.
That’s right, after a shaky start, NCVPS is actually bucking the trend and showing positive enrollment figures. It has clearly tapped into a market of qualified consumers for 24/7 education. Barring the unforeseen, its market share will continue to rise simply on the basis of relevance.
What do the markets of housing, voters and education have in common? Consumers are driving the set of options in the new world order. Vendors, politicians, schools, and all service providers flexible enough to adjust to market demands will thrive.