Unfortunately, like other parts of the country, Dayton’s real estate market has slowed due to the current COVID-19 pandemic. This is generally the time of the year when you begin to see the greatest buying power in the market. However, this is not the case for spring 2020.
Agents are struggling to even offer open houses, and people are somewhat reluctant to view houses online. This spring selling season is undoubted, unprecedented. Even when an agent does manage to get a homeowner to agree to an open house, they often have to cancel due to a lack of interest.
Houses are still selling, there is a tight inventory in the city, sellers, buyers, and agents are doing all they can to avoid becoming infected when visiting open houses. One local realtor said that they are still in a seller’s market since they have such a limited amount of inventory. However, they are still managing transactions.
The declining home showings, listings being withdrawn, and fallen deals when someone losses his or her job are evidenced by the real estate slowdown and the current economic downturn. One Dayton agent admits that they had two transactions canceled because the buyer was laid off. This is something that no one can predict. There is a ripple effect because if the buyer is unable to purchase the house and the seller may be under contract for another house. This makes it difficult for both parties, especially the seller because they are now on the hook for two homes.
More than 10 million people nationally have filed for unemployment, which included more than 468,000 Ohioans. Miami, Preble, and Greene counties had the largest increase in unemployment claims in Ohio, according to a recent analysis by Policy Matters Ohio.
Real estate agent, Heather Zimmaro of Coldwell Banker Heritage stated that regardless of the economy; people still need to sell and buy due to his or her circumstance. However, people may be apprehensive about signing a new mortgage because they fear what may happen in the future. She admits that the idea of losing their job is what is at the forefront of their minds. Zimmaro has an optimistic view of the future real estate market. She believes that it is just a pause rather than an imploding. She believes that things will be much better once we get through to the other side.
At this point, it’s anybody’s guess as to how the market will rebound, nationally and in Dayton. However, as long as people need to sell their homes and someone needs to buy a new home, you can be sure that local realtors will diligently try to appease the needs of the local market. This is not the time to give in or give up. When the market does begin to do better, at least they will be ready, if they continue putting in the work now. There is always tomorrow.
With museums and art galleries closed, performances canceled or postponed, many wonder how the arts would survive. Art thrives in an environment of togetherness.
During an ordinary day, we would take a leisure stroll through a gallery; watch a performance, experiencing arts and all the emotions it evokes collectively; we fill up concert venues, museums, and theaters; we gather to learn and create from each other and improve our community. These recent pandemic changes have changed things significantly, including the loss of revenue for the programs and their employees. COVID-19 has resulted in lots of lost income and layoffs.
There is no definite answer as to how the pandemic will impact the art long-term but one thing is certain, things are forever changed. One Cincinnati arts leader had some encouraging things for the artists and other creatives in the Cincinnati area.
Statistics from the Americans for the Arts states that 60 percent of income for nonprofit art organizations come from the sales of tickets, sponsorships, and fundraising. It states that nonprofit arts have a $166 billion economic effect in the U.S and it supports over 4.5 million jobs. Many local artist depend on the sales of their artwork from local galleries, festivals, and fairs just to sustain themselves. Most of them don’t have a fallback plan. Many live paychecks to paycheck or from gig to gig.
Just like other industries, arts organizations have also asked for federal aid as they deal with their crises. The New York Times has indicated that the $2.2 trillion federal COVID-19 relief bill included $75 million for the National Endowment for the arts and $75 million for the National Endowment for the Humanities. Both of them would offer money to institutions throughout America.
The Cincinnati Art Museum’s head of design and installation says that working artists need more help than they could have imagined. Not just the individual artists but the entire artist community. Many artist are getting hit from all sides, as they work in the gig economy as designers, sculptors, painters, bartenders, and barista’s just to support their creative endeavors. Since many of them these gigs are no longer available, they are trying to find ways to make a living and stay afloat.
Cincinnati artists now have to depend on the community to support them during this critical time so that they can also receive the necessities that are important to everyday life. Creative work would cease to exist without these basic needs.
The Contemporary Arts Center’s director of communications believes that arts are a call to action, as artists strive to make a connection through their talents. Now is the time for others to connect with them by supporting them in their efforts to continue to thrive creatively. They don’t have control over their current circumstances yet they still manage to connect with people emotionally. Those who enjoy the work they do should recognize this and support them through any means necessary.