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October 2006

Oct. 30, 2006 - Shoud We Raise The Minimum Wage? (Issue 2)

 

Will Increasing the Minimum Wage Help or Hurt Our Local Economy? 

Yes I am still on Election Issues. Issue 2 would raise the minimum wage in Ohio to $6.85 an hour. Like everything else involving economics, there are conflicting opinions and even conflicting statistical information. The bottom line question for me is, what can we do to get over 1/3 of our population out of the poverty level, and the over 6% unemployed, jobs. I have a feeling we are all in agreement so far. To start, let me give you the link to the Cuyahoga County Board of Elections posting of Issue 2.  The question becomes one of trying to figure out how to vote on this Issue!

Some history on this. Only recently did Ohio raise the minimum wage to meet National standards: $5.15 an hour. Prior to that it was $4.25 an hour. An increase (at that wage) from $8,840 a year to $10,712 a year. Second point we can all agree on? It would be extremely hard to live on $10,712 a year.  I'm going to give you a bit more Census 2000 info: 

 Families with at least 3.3 people (!) make up 58.7% of Cleveland's population

 Cleveland's Median age is 33 years old

Average Family Wage in Cleveland is $30,970  (National Average is just over $60,000)

 Average Family Wage in Cuyahoga County is $46,785 (still under the National Average)

1/3 of Clevelanders and 50% of Cleveland's children were found to be earning below the Federal poverty level of $19,971 per year.   When I do my math (please correct me if I am wrong), if the minimum wage is raised to $6.85 an hour, that would bring the annual wage earned to $14,248. Do you notice this is still below Fed. Poverty Level? What does this mean? 

There are those who argue that raising the minimum wage hurts our economy, lays off more people and slows new job  growth.  Here is a link to Jonathan Adler's article on the National Review website on the potential negative impact of Issue 2.  He states that there is a lot of data to show that increases in minimum wage show a cut back in jobs most importantly in  retail and small business.    The argument in general usually surrounds the idea that if an employer has to pay you more money, they will have to cut back on staff. What do you think?

Cleveland.com has an article with information from supporters of the increase. That is worth reading as well. It's always mind boggling to me that both sides of economic issues can proclaim the same benefits. That is what makes it so hard to figure out how to vote, in my humble opinion (IMHO) :-) 

And lest you think that this is an issue that divides along party lines, think again. Current candidates who support Issue 2 include people like Ted Strickland (Democrat) and Mike DeWine (Repulican).  Thankfully we can think for ourselves on this issue and not have to clutter up the arena thinking lilke a party person!

This is the one ballot issue of which I am still undecided! I  welcome any input, other suggested articles, etc, to help me and maybe all of us formulate an opinion here. I know when I had the opportunity, I did sign a petition to get it on the ballot. 

On the one hand, an additonal $1,228 in someone's pocket each year is better than nothing. On the other hand, it still keeps those same people below the poverty level. And does it really hurt the overall economic growth of Northeast Ohio?  I am going to keep researching this issue and will update my post here if and when I get more interesting data or opinions to share.  Please submit your comments or ideas too!  

                                        

                                

 

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Oct. 27, 2006 - Issue 3: Where Do You Stand?

 

Get Ready to Vote on November 7th

How will you vote on Issue 3? The Facts of the Issue as provided by Learn and Earn.org  can be seen by clicking here.  We all got burned when Ohio Lottery money was supposed to be earmarked for educational purposes and then the politicians decided otherwise. Has it made you leery of supporting other types of ballot issues? This current configuration is to put slot machines at every race track in Ohio (there are 7) with two Cleveland locations to be determined (that brings the total to 9, and one of the locations is in the Flats). A 'check and balance' on the system is to be The Ohio Board of Regent's control over the percentage of money from each dollar earned through the slots....NOT the politicians. Students will apply for inclusion into this 'trust' of monies. As long as they are accepted into the program and then accepted into an Ohio school of higher learning, they can utilize this money. 

How do you feel about the argument that creating locations for slot machines will add several thousand jobs to Ohio?  I personally am going to vote for Issue 3; I say we need more jobs and we need to stop the drain of monies from Ohio to other state's gambling arenas. Yes I know some people are addicted to gambling. But they will gamble their monies on our Lottery or go to other states regardless of whether we have slot machines in Ohio. That is how addiction works...I would prefer our money stay here, and I am willing to bet that the Board of Regents portion of the monies earned is in safer hands than they were with our Governor.  Is the system perfect? I doubt it, but it doesn't sound evil or ill-planned. Yes the casino owners who back Learn and Earn will make money. I'd like to think that there are more positives than negatives to Issue 3 so that is why I am supporting it.

Maureen McCabe's Columbus Ohio Blog has a poll on casinos in Columbus which began a few days ago. Please  check out her blog post, the poll itself; you can even vote! Comments about Issue 3  came up even though the blog is about casinos in Columbus, because Issue 3 would have to pass before that was a realistic consideration. You can also get some thoughtful opposing commentary on Issue 3 on her blog.

And as I have posted before regarding election issues, this post is not only about Issue 3, but hopefully it will help encourage you  to vote on November 7th, no matter how you feel about Issue 3.

 

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Oct. 24, 2006 - Why People Sing Cleveland's Praises

Cleveland: Still 'Most Liveable'

When I was a Cleveland School District kid, we had periodic field trips to Severance Hall for Young People's Concerts. (Pictured at left are student's who are following that same tradition today).  It expanded my world. I got lost in the music. The Cleveland Orchestra is still a world class orchestra. My friends and I try to attend concerts whenever we can. Have you been there since the rennovation of a few years back? IT IS MAGICAL. And the acoustics? Sit in the last row at the top and hear a pin drop on stage. What a gem we have in Severance Hall.

Although we may be rivals on the football field (!!!), Cleveland and Pittsburgh share the honor of being voted one of the World's Most Liveable Cities. The Economist Magazine does this research and in 2005 they looked at almost 130 cities WORLDWIDE. Cleveland and Pittsburgh were voted THE most liveable!  This was based on things like education, culture, healthcare and stability.

Cleveland is providing others with a sense of place. But don't take my word for it, listen to what non-native Clevelanders are saying! I checked out the Case Western Reserve University (CWRU) Undergrad Admissions Blog and  was delighted to see why some people who transplant themselves here Believe In Cleveland. One  post from Trish Schreiber talked in more depth about why Cleveland is so liveable.  I posted a comment on another blogger's post, John Gest, who works in the CWRU Undergrad Admission's Department. He sent me a thoughtful email and has allowed me to post it here for you. Some insights from a New Englander who now calls Cleveland home:

"I am not a native of Cleveland. I grew up in New England and came to Ohio
for school (Bowling Green State Univ.). I moved to Chicago for several years
and then decided to move here to be around my friends from college.

I have now been here just over two years and find so many things enjoyable.
I find Cleveland to be very affordable, have a city that is much easier to
get your head around than Chicago and easy to access.


I live in Lakewood which is also good place to be if you are twenty
something and single."

Many of us talk about how to entice people to stay in Cleveland after they finish their undergraduate studies here. How nice that we have someone at CWRU who did just that, works in Admissions, and feels passionately about the value in Northeast Ohio. You can check out Trish's Blog and John's Blog by clicking on their names above. Cheers John for letting me tell your story!

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Oct. 18, 2006 - Book Signing At Something Different - Casey Daniels

I promised to keep you updated on Casey Daniels. Her second book in the Pepper Martin Series comes out in March. The first book,  Don of the Dead,  is a great read and a good stocking stuffer for the Holidays. A fabulous way to get a book as a Holiday Gift would be to visit with Casey herself. She will be signing books at  Something Different gallery on November 16th.   Something Different is special in itself and I will be having an interview in a few weeks with one of the owners. I love the eclectic items in the shop and it is a fabulous place to find artwork/photographs of Cleveland. I Believe in Cleveland and am always excited when I find a fabulous place for all of us to support. So keep November 16th on your calendar. She will be signing books from 5 to 8 PM -- Casey Daniels has a blog as well and you can keep up with her life as a writer and Cleveland author by visiting it at Her Blog
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Oct. 10, 2006 - It's A Buyer's Market

 
We have all heard the media hype about the housing market. What I want to do is give you REAL information about home sales. The interest rates one year ago were 5.8%. They are currently at 6.3%. That is an awesome interest rate, and I am here to tell you that no matter how the stock market looks right now (improved), buying real estate in Northeast Ohio is a stable, solid investment of your money. You can also get a tax benefit from owning a home instead of giving money to your landlord every month and having nothing to show for it.
 
It IS true, that the market has corrected itself over the past year. Cleveland consistently, decade after decade, averages a 3% increased return on real estate. For a two year period, that percentage increased quite a bit. In some areas like Lakewood and Westpark, there was a 15% increase. So now there is a correction and people who are selling their homes are not making the same profits that were available for a short period of time.  Homes are still selling and for a good price! This correction only makes things better for you as a buyer. Let’s look at 3 Bedroom 1 Bath home sales in Lakewood . I am using figures available on my computer listing and sales system from August 1 2005 to October 9 2005 and the same period of time for 2006.
 
2005:  58 Homes Sold     Average Sale Price $184,360 Ave. Price Per Sq. Ft. = $102.00
2006:  44 Homes Sold     Average Sale Price $179,943 Ave. Price Per Sq. Ft. = $99.00
 
This data tells us two things: homes are holding their value, but the same home that sold last year at this time, might be selling for about $4000 less this year. Doesn’t that help you as a buyer? Wouldn’t you rather pay $99/sq. ft. for a home than $102/sq. ft.? Again, these figures are just for Lakewood homes, and these homes fell into a certain criteria. I can analyze, other areas as well. For example, West Park, same time frames, same criteria:
 
2005:  55 Homes Sold     Average Sale Price $126,358   Ave. Price Per Sq. Ft. = $93.00
2006:  42 Homes Sold     Average Sale Price $123,940   Ave. Price Per Sq. Ft. = $86.00
 
We can analyze any area in Northeast Ohio and find you a home while the interest rates are still phenomenal. We are still in a Buyer’s Market. Two years ago there weren’t as many homes for sale and buyer’s had less to choose from. Now you have great interest rates, a sizeable number of homes to pick from in any price range, and the ability to get a home for less cost per square foot than before.  It is worth considering.
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Oct. 5, 2006 - Have You Wondered About Owning A Home Instead Of Renting?

Maybe you love the architectural style of Lakewood homes, you love the 'liveability' of Lakewood with her parks and sidewalks and active business district. And of course the pubs! But maybe you are just not sure you can own a home right now. Maybe you have a steady job but are concerned that a downpayment on a home might leave you strapped for cash? There are a lot of reasons why we hesitate. After all, buying a home is a big investment.

I want to make you aware of the City of Lakewood's First Time Home Buying Program. The housing stock is gorgeous and plentiful and Lakewood encourages you to purchase there when you decide it's time to buy your first home. How? With a fantastic program set up to teach you things you need to know about purchasing a home, and also providing you with downpayment assistance.

For example, did you know, if you purchase a single family home in Lakewood as a First Time Home Buyer, you can receive $10,000 towards your downpayment and closing costs? Yes, I said $10,000.  I am going to include a synopsis page regarding this program, but for complete details, go to this link:  http://www.ci.lakewood.oh.us/dept_planning_cdbg_6.html

There are homes in all price ranges and styles for sale in Lakewood....it's worth reading about this program to see how Lakewood's First Time Home Buyer's Program might be able to help make home ownership a reality for you!

______________________________________________________________________

 Lakewood City Division of Community Development

Mission Statement
The Lakewood HOME Program provides one of the best mortgage financing packages available to qualified first time home buyers interested in purchasing a Lakewood home. Assistance, which comes in the form of a 0% interest, no monthly payment second mortgage is used to assist with both down payment and closing costs.

Eligible Homebuyers

 

Household
size

Maximum
Household
Income

1

$34,350

2

$39,300

3

$44,200

4

$49,100

5

$53,050

6

$56,950

7

$60,900

8

$64,800

Affordable Financing
Participating lenders offer:
• 30-year loan term;
• Discounted fixed interest rate; and
• First mortgage loan to qualified buyers.
Appraisal and credit bureau report fees are required at time of application. P.M.I. may be required.


First Federal of Lakewood is one of the participating lending institutions

14806 Detroit Avenue
(216) 221-7300

Eligible Properties
• Single-family, two-family, or condominium properties within the City of Lakewood.
• Purchase price cannot exceed $208,800 for a single-family or condominium, or $267,177 for a two-family property.


• Must meet certain Lakewood Building Department Housing Code Standards at time of occupancy. Seller must apply for City Building Department inspection prior to sale and pay a $25.00 for single- or two-family properties or a $50.00 fee for condominiums.


• If purchasing a qualified two-family house, only owner-occupied or vacant properties are eligible. If two-family house has a current tenant, there must be no displacement or relocation of current tenant(s).

 

First Time Homebuyer Seminar

   

 

Offered once a month to prospective homebuyers.

 

Mandatory to those seeking assistance through the HOME Program.

 

Information provided regarding program requirements and federal lead-based paint guidelines.

 

Program participants are required to visit the Department of Housing and Urban Development's website and take the Visual Assessment Training Course prior to attending the seminar.


Note: Prospective homebuyers must complete certain letters and/or certifications required by the U.S. Department of Housing and Urban Development (HUD). They are also required to sign a notice from HUD's Office of Lead-Based Paint Abatement and Poisoning Prevention, which promotes awareness of the dangers of lead-based paint. These documents, once executed, must be filed with Lakewood's Division of Community Development. Prospective homebuyers can obtain this information from their lender, or by contacting Ms. Leigh.

Application Procedure


• Homebuyer(s) must either be a displaced homemaker, single parent, or a person who has not owned a home for 3 years.
• Homebuyer(s) must provide a minimum of 1.5%* of the sale price from personal funds. (First Federal of Lakewood only.)
• Homebuyer(s) must use the property as principal residence.
• Homebuyer(s) must meet credit standards of participating lender.
• Homebuyer(s) must participate in pre-purchase counseling program provided by the lender.
• Monthly payment of principal, interest, taxes and insurance should not exceed 33% of Homebuyer(s) gross monthly income.
• Homebuyer(s) must meet federal income requirements for household size. Current annual income is defined in the Federal Regulations at 24 CFR Part 813.


The Lakewood HOME Program provides one of the best mortgage financing packages available to qualified first time home buyers interested in purchasing a Lakewood home. Assistance, which comes in the form of a 0% interest, no monthly payment second mortgage is used to assist with both down payment and closing costs.

For more information regarding this program, please contact:
Mary E. Leigh, Program Coordinator
City of Lakewood
Division of Community Development
12650 Detroit Avenue
(216) 529-5931




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