I read the Milwaukee Journal-Sentinel online edition every morning, and today there were two interesting items. One has to do with something I talked to wwhazz about last week, and one is another entry in my ongoing cynicism towards home-buying at the moment.
I wouldn’t say that it boils my blood or anything, but it is annoying that the city of Oconomowoc is allowing a Gigantor Shopping Complex to get crapped right into a large field on the outskirts of their town. Apparently Mayfair Mall is too urban (urbane?) (both?) and the developers wanted to suck up some of that Johnson Creek Outlet Mall fat money cake, so they planned a Mega Mall 30-ish miles outside Milwaukee that would house your usual assortment of Bed, Bath, and Beyonds, Cheesecake Factories, and William-Sonomas. Because yeah, with gas at $3.65/gal it makes sense to drive 30 miles to eat at an Olive Garden. Here’s the rub: oops, the city is out of liquor licenses. Now that makes me more happy than you can know, but apparently there’s evil shenanigans afoot. As always, laws are only for the stupid, not the rich developers who want to tramp down arable farmland and build another fucking Chili’s. And while I’m hoping this derails the extent of the project I’m not holding my breath.
Next up, it’s heartening to finally see that Milwaukee area homeowners are getting the picture. New home listings are sagging, but the gold in the linked article is actually a secondary topic: the fact that most home purchase contingencies these days include clauses about the sale of the buyer’s home first. This is creating ridiculous “chains” of offers.
“A lot of my deals are four and five people deep,” Buzzell said. “I have sold a property to a lady, whose house I now have on the market, which I’ve sold to a guy, and none of the deals will close until his house sells.”
Hey hepcat, dig that ownership society groove. Look out below, middle class coming through.