Ten Years after the Housing Crisis, Realtors Reflect on Springfield’s Experience
Ten years after the 2008 Housing and Financial Crisis, experts say the local housing market in the Ozarks is improving— but still recovering.
Charlyce Ruth, the CEO of the Home Builder’s Association of Greater Springfield, says Springfield had a unique experience during the housing crisis.
“We didn’t slow down as quickly as parts of the rest of the United States, so we were a little bit slower to come out of it as well.”
To stimulate recovery, the HBA has focused on educating workers and connecting students with opportunities in the construction business.
Realtors link the housing market to several factors—one of which is the jobs market.
Jim Hutcheson of Jim Hutcheson Realtors says that Springfield is lucky in that it draws people in for many different industries and fields, from higher education to manufacturing to health care.
“There’s not any one major employer, and so we’re not dependent on one major industry.”
This helps the housing market by spreading out job opportunities for people who live here or move here for work. He adds that Springfield’s location close to recreational sites like Lake of the Ozarks and Branson also improves growth in the long run.