IBM Creates A Shortage

8 years 2 weeks 2 days ago Tuesday, June 08 2010 Jun 8, 2010 Tuesday, June 08, 2010 8:43:04 AM CDT June 08, 2010 in News

The IBM center made an impact on the city of Dubuque, Iowa. It created a shortage of something every community needs.

"Its caused a shortage, there's no question about that," said Greg Adams, a broker in Dubuque.

"I had difficulty finding a place at first, yes the housing market here is pretty tight," said Mark Warner, an IBM worker at the Dubuque location.

That's the same story heard again and again in Dubuque.

"I just had a personal house I put in for rent and the number of calls I got was overwhelming..it was just interrupting my day," said Adams.

When IBM opened an IT center in Dubuque last year, hundreds came calling. But with a job, the employees needed a place to live.

"We're literally down to about a zero percent vacancy factor," said Adams.

"In our desperation we are placing people in temporary housing," said Dubuque Economic Director David Heiar.

Some IBM employees are forced to live in college dorms or senior living centers. One even has an entire 2nd floor devoted to IBM employees.

"We've experienced a tremendous demand for housing and you know we're scrambling to meet that demand," said Dubuque Mayor Roy D. Buol.

"There are developers out there answering that demand, building 16 plexes in different areas of town, but it will be interesting to see if they get done before the next wave of IBMers come here," said Adams.

"As we speak there's over 290 market rate rental units under construction in our community. That never would have happened without IBM coming to Dubuque," said Dick Richardson of Greater Dubuque Economic Development.

"I was almost like the stars we aligned. The employees were coming and now we've got to create housing," sad Mayor Buol.

The employees do need housing, but aren't necessarily looking for a permanent investment in a house.

"Alot of people they hired were their first jobs out of college so our biggest impact was in our rental market, not necessarily in our real estate sales market," said Adams.

"Young people as they're getting out of school are not looking at buying a house as the first thing with their diploma in hand...its less about houses and more about apartments. Because there are still a sufficient number of houses," said Heiar.

Sufficiency, even surplus is something Mid-Missourians can relate to because the housing market in Columbia is different from Dubuque.

"New development right now is very very slow, we actually have an over supply in alot of areas," said Columbia Developer Rob Wolverton.

So instead of a shortage, IBM might help even out the housing market in Mid-Missouri.

"The greatest thing for any real estate market is slow and steady growth...and I think IBM will bring a very stable and steady employer that will give us that slow steady growth we like," said Wolverton.

Growth, that hopefully doesn't come too fast because it if does, the word mid-Missourians will learn from IBM is....housing.

More News

Grid
List
COLUMBIA - The Missouri Bikers Against Child Abuse group met with children to discuss past altercations with abusers in their... More >>
2 hours ago Sunday, June 24 2018 Jun 24, 2018 Sunday, June 24, 2018 9:04:00 AM CDT June 24, 2018 in Top Stories
COLUMBIA - Columbia Water & Light's outage map showed 1,500 customers without power in central and northeastern Columbia Sunday morning.... More >>
2 hours ago Sunday, June 24 2018 Jun 24, 2018 Sunday, June 24, 2018 8:53:00 AM CDT June 24, 2018 in News
COLUMBIA - MU has saved money and reduced emissions through its long-term energy efficiency programs. The university has reduced... More >>
3 hours ago Sunday, June 24 2018 Jun 24, 2018 Sunday, June 24, 2018 8:20:00 AM CDT June 24, 2018 in Top Stories
ST. LOUIS - An attorney is suing a nonprofit group connected to former Gov. Eric Greitens for its records. ... More >>
14 hours ago Saturday, June 23 2018 Jun 23, 2018 Saturday, June 23, 2018 9:52:00 PM CDT June 23, 2018 in News
RIYADH, Saudi Arabia (AP) — Outside a sprawling mall in the Saudi capital, Riyadh, young single men and women walk... More >>
17 hours ago Saturday, June 23 2018 Jun 23, 2018 Saturday, June 23, 2018 6:21:17 PM CDT June 23, 2018 in News
COLUMBIA - One softball player is setting her team up for success before she leaves for college. On Saturday,... More >>
18 hours ago Saturday, June 23 2018 Jun 23, 2018 Saturday, June 23, 2018 4:54:00 PM CDT June 23, 2018 in News
COLUMBIA - The discussion on community policing continues to ripple through Columbia after a citywide meeting Saturday. The City... More >>
20 hours ago Saturday, June 23 2018 Jun 23, 2018 Saturday, June 23, 2018 3:31:00 PM CDT June 23, 2018 in News
KANSAS CITY, Mo. (AP) — Kansas City police are investigating the shooting death of a man near a house in... More >>
20 hours ago Saturday, June 23 2018 Jun 23, 2018 Saturday, June 23, 2018 3:12:00 PM CDT June 23, 2018 in News
(CNN) -- White House press secretary Sarah Sanders said she was kicked out of a Virginia restaurant by its owner... More >>
21 hours ago Saturday, June 23 2018 Jun 23, 2018 Saturday, June 23, 2018 2:47:00 PM CDT June 23, 2018 in News
COLUMBIA (AP) — The wife of a former University of Missouri football coach is helping her husband remember the details... More >>
21 hours ago Saturday, June 23 2018 Jun 23, 2018 Saturday, June 23, 2018 2:18:00 PM CDT June 23, 2018 in News
COLUMBIA – Reaching all generations was the goal of one Columbia woman on Saturday. Cheryl Miller is the president... More >>
22 hours ago Saturday, June 23 2018 Jun 23, 2018 Saturday, June 23, 2018 1:03:00 PM CDT June 23, 2018 in News
CAMDEN COUNTY - Two teenage boys suffered serious injuries in an ATV accident Friday night, according to the Missouri State... More >>
1 day ago Saturday, June 23 2018 Jun 23, 2018 Saturday, June 23, 2018 9:34:00 AM CDT June 23, 2018 in News
ST. LOUIS (AP) — A national gathering in St. Louis in September will focus on election security. Missouri... More >>
1 day ago Saturday, June 23 2018 Jun 23, 2018 Saturday, June 23, 2018 7:54:00 AM CDT June 23, 2018 in News
FULTON - The city of Fulton kicked off their annual Street Festival in style Friday with live music, a carnival,... More >>
1 day ago Saturday, June 23 2018 Jun 23, 2018 Saturday, June 23, 2018 2:23:00 AM CDT June 23, 2018 in News
KANSAS CITY, Kan. (AP) — A 30-year-old inmate was charged Friday with capital murder in the shooting deaths of... More >>
1 day ago Friday, June 22 2018 Jun 22, 2018 Friday, June 22, 2018 8:41:21 PM CDT June 22, 2018 in News
BOONVILLE - People will see a few more cars drive through town this weekend, as the city celebrates its annual... More >>
1 day ago Friday, June 22 2018 Jun 22, 2018 Friday, June 22, 2018 5:41:00 PM CDT June 22, 2018 in News
BOONVILLE – Police said a technician at a local gas station found an internal skimmer device inside a gas pump... More >>
1 day ago Friday, June 22 2018 Jun 22, 2018 Friday, June 22, 2018 4:49:00 PM CDT June 22, 2018 in News
CALLAWAY COUNTY - A Fulton man could face more than 200 years in prison after being found guilty of 12... More >>
1 day ago Friday, June 22 2018 Jun 22, 2018 Friday, June 22, 2018 4:01:00 PM CDT June 22, 2018 in News
Columbia, MO
Broken Clouds 82°
12pm 87°
1pm 88°
2pm 89°
3pm 89°