IBM Creates A Shortage

7 years 7 months 1 week 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
JEFFERSON CITY - Governor Eric Greitens released an outline of his plan for state tax reform on Thursday. The outline... More >>
1 day ago Thursday, January 18 2018 Jan 18, 2018 Thursday, January 18, 2018 1:28:00 PM CST January 18, 2018 in News
CAMDEN COUNTY - A former sheriff's deputy already facing charges of child pornography and child molestation faces more charges in... More >>
1 day ago Thursday, January 18 2018 Jan 18, 2018 Thursday, January 18, 2018 12:47:00 PM CST January 18, 2018 in Top Stories
MONTGOMERY COUNTY - One man was hospitalized after a car driving the wrong way crashed into his vehicle, according to... More >>
1 day ago Thursday, January 18 2018 Jan 18, 2018 Thursday, January 18, 2018 12:37:00 PM CST January 18, 2018 in News
SPRINGFIELD, Mo. (AP) — A Missouri Department of Corrections employee is charged with using a hidden camera to film... More >>
1 day ago Thursday, January 18 2018 Jan 18, 2018 Thursday, January 18, 2018 8:14:00 AM CST January 18, 2018 in News
KANSAS CITY, Mo. (AP) — A northwest Missouri lawmaker has donated a kidney as part of a transplant chain to... More >>
1 day ago Thursday, January 18 2018 Jan 18, 2018 Thursday, January 18, 2018 8:00:00 AM CST January 18, 2018 in News
JEFFERSON CITY (AP) — Missouri's unemployment rate has edged up slightly. Data released Wednesday by the state Department... More >>
1 day ago Wednesday, January 17 2018 Jan 17, 2018 Wednesday, January 17, 2018 7:26:31 PM CST January 17, 2018 in News
JEFFERSON CITY (AP) — Citing new testimony from a state school board member, a Springfield teacher is asking a... More >>
1 day ago Wednesday, January 17 2018 Jan 17, 2018 Wednesday, January 17, 2018 7:22:00 PM CST January 17, 2018 in News
JEFFERSON CITY (AP) — Professional hair braiders would face fewer regulations under a bill passed by the Missouri House.... More >>
1 day ago Wednesday, January 17 2018 Jan 17, 2018 Wednesday, January 17, 2018 7:15:17 PM CST January 17, 2018 in News
COLUMBIA - Some Special Olympics athletes are ready for prom after choosing their perfect dress from more than 100 that... More >>
1 day ago Wednesday, January 17 2018 Jan 17, 2018 Wednesday, January 17, 2018 7:04:00 PM CST January 17, 2018 in News
COLUMBIA - The next step in construction of a new middle school in Columbia is a public vote scheduled for... More >>
1 day ago Wednesday, January 17 2018 Jan 17, 2018 Wednesday, January 17, 2018 7:00:00 PM CST January 17, 2018 in News
JEFFERSON CITY - With the Jan. 19 deadline looming for Congress to pass a federal spending bill and keep the... More >>
1 day ago Wednesday, January 17 2018 Jan 17, 2018 Wednesday, January 17, 2018 6:46:00 PM CST January 17, 2018 in News
JEFFERSON CITY – Secretary of Education Betsy DeVos has signed off on Missouri's plans for implementing a new act that... More >>
1 day ago Wednesday, January 17 2018 Jan 17, 2018 Wednesday, January 17, 2018 5:17:00 PM CST January 17, 2018 in News
COLUMBIA - People who work at a Columbia shelter say more people would volunteer if they knew how gratifying it... More >>
2 days ago Wednesday, January 17 2018 Jan 17, 2018 Wednesday, January 17, 2018 4:55:00 PM CST January 17, 2018 in News
COLUMBIA - On Tuesday night, Columbia City Council approved a $12.3 million improvement to sections of Nifong and Forum Boulevard.... More >>
2 days ago Wednesday, January 17 2018 Jan 17, 2018 Wednesday, January 17, 2018 4:06:00 PM CST January 17, 2018 in News
JEFFERSON CITY - As many lawmakers have released statements regarding Gov. Eric Greitens admitting to an extramarital affair, they are... More >>
2 days ago Wednesday, January 17 2018 Jan 17, 2018 Wednesday, January 17, 2018 3:40:00 PM CST January 17, 2018 in News
JEFFERSON CITY - The state treasurer wants to spread the word that Missourians are now able to withdraw from a... More >>
2 days ago Wednesday, January 17 2018 Jan 17, 2018 Wednesday, January 17, 2018 3:32:00 PM CST January 17, 2018 in News
COLUMBIA — This winter season, people are battling the widespread flu alongside bitter cold temperatures. The Centers for Disease... More >>
2 days ago Wednesday, January 17 2018 Jan 17, 2018 Wednesday, January 17, 2018 3:00:00 PM CST January 17, 2018 in News
COLUMBIA – Walmart is now offering a product that destroys opioids before they can be abused, and it is offering... More >>
2 days ago Wednesday, January 17 2018 Jan 17, 2018 Wednesday, January 17, 2018 3:00:00 PM CST January 17, 2018 in News
Columbia, MO
Broken Clouds 50°
6pm 40°
7pm 39°
8pm 38°
9pm 37°

Select a station to view its upcoming schedule:

Coming Up Next

5:00p
KOMU 8 News @ 5
5:30p
NBC Nightly News with Lester Holt
6:00p
KOMU 8 News @ 6
5:00p
American Dad!
5:30p
American Dad!
6:00p
Family Guy

Tonight's Schedule

7:00p
Blindspot
8:00p
Taken
9:00p
Dateline NBC
7:00p
Black Lightning
8:00p
Penn & Teller: Fool Us
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld