Cincinnati Joins The Soccer Craze, But at What Price?
With the emergence of soccer’s popularity over the past ten years, the expansion of the MLS into smaller cities comes as no surprise. Places like Austin, Orlando, Nashville, and Atlanta have embraced their new teams, leading to an entire new generation of fans ready to join the world in fandom of the biggest international sport.
While this upsurgence in soccer has sparked economic growth, there is a real estate dark side. For a little background information, MLS league officials believe their most successful stadiums are ones built in the urban core. According to their research, when you locate a new franchise in poor areas, you immediately increase real estate values while stimulating the economy through new business development. Most new MLS cities have chosen this path, although officials agree this plan isn’t right for every city. This revitalization of the area allows for MLS teams to thrive while steadily developing and progressing the area. However, what officials do not consider is the immediate negative impact these projects can have on the area.
Enter FC Cincinnati, one of the MLS’ newest teams. Like other cities, they’ve followed a gentrification strategy of building their new stadium in the impoverished West End neighborhood of Cincinnati. They are currently constructing a $250 million stadium that will seat over 26,000 fans. And yet, in exchange for this mastodon of a soccer pitch, local renters and owners have been forced out. The reason? Rent hikes and construction forcing landlords to kick out their tenants with little retribution.
For homeowners, this isn’t a big issue. The West End annual home price rose 36 percent from $160,016 in 2017 to $217,170 in 2018. Compare that to the 7 percent hike that happened in the entire Cincinnati area over the same time, and we can conclude these fortunate owners are reaping the benefits, even if they are being “forced” to sell their homes above this value to make way for construction.
But for renters in the construction zone, not only are there over 1,400 people being displaced with little compensation, those who are not affected by construction are being stippled in rent hikes.
FC Cincinnati paid $150,000 for a study to take a snapshot of how this new stadium would affect the area. The conclusion: everyone who rents property is endangered of losing their homes, even before construction starts.
The residents of West End fought back. There is word going around that tenants were looking for a sum of $40,000 to pay for their moving and/or rent costs, a number FC Cincinnati President Jeff Berding claimed was just not possible. FC Cincinnati has already donated $100,000 for an emergency housing fund, and has created a team to help residents find new housing. They also offered $2,500 per household, and would cover all moving expenses, but tenants say it’s not enough.
The date to vacate was May 31st. According to WCPO, only seven residents remain, with two planning to leave by June 1st. For the other five, they have been given an extension up to October 31st, 2019.
As for the remaining renters not affected by stadium construction or new businesses around the area, they will be dealing with constant rent hikes past the 2021 opening of the new stadium. While new business will help stimulate the surrounding area, how much of this stimulus will go to the ones hurt most is a grey area not being addressed.
We will keep following this topic as it progresses.
Learn More About the Advantages of Online & Traditional Real Estate Schools
When you begin your real estate career in Ohio, you’ll have to take Pre-Licensing courses and get licensed. The requirements for becoming an agent varies state by state. What also varies is how you take your courses. In better words, should you take your courses online or in the classroom?
Ohio Real Estate School: Online vs Classroom
The inherent advantages of completing your courses online versus the classroom can dictate the difference between passing your exam the first time and having to take it again. Some of the benefits of taking your courses may not seem obvious, but could potentially save you money, resources, and time.
Online Real Estate School: Advantages
Money: Classroom learning can cost you big time. Think about small costs that add up, like gas, babysitters, car depreciation, and taking off work. The list of expenses is countless. When you go online, you only have to worry about WiFi expenses and a computer.
Time: The most finite resource in the world is time. Every minute that passes in your life is a minute you lose forever. When you go to real estate school in a brick-and-mortar classroom, you’re losing countless minutes every day. How much? The average real estate student who drives to class three days a week loses up to 360 minutes (6 hours) per week.
For example, as a real estate student in the state of Ohio, you could lose over 100 hours before even getting licensed. This is time that could be better used for studying, enjoying activities, family, or even planning your future business and career in real estate.
Not having a class schedule also provides you the ability to finish your classes faster.
Flexibility: When you take classes online, your virtual courses are always open. As long as the internet is available––which it is 24/7 last time we checked––you’ll be able to complete your course load on your time. With classroom learning, you have to work to that school’s schedule. That means missing family activities, absentia from work, and any other routine-oriented, or weekly activity that could be lost when having to learn when the school dictates.
Engagement: With engaging online classes, you’ll be able to learn through a plethora of different mediums for the same topic. That means online quizzes, topic explanation videos, and more––all at your leisure.
Convenience: Handling a full work schedule with other responsibilities in your life can make taking your Pre-Licensing courses a daunting task. Why make your routine harder by driving to a classroom every day? With online real estate courses, you avoid all of the arduous tasks that come with classroom learning, making your learning experience that much easier.
Ohio Classroom Real Estate Courses: Advantages
Social Interaction: Having the ability to congregate with other students can have its advantages. However, some issues that students do encounter are the elements of distraction and groupthink. When you’re distracted, it makes it almost impossible to concentrate and learn. And when you are in large groups, groupthink sometimes leads to misinformation being accepted by the masses as factually correct.
Distance learning through online courses avoids these issues completely.
Textbook Learner: Being a textbook learner isn’t a bad thing, and might be something you need in order to succeed on the licensing exam. That being said, online real estate courses provide the ability to print your courses. All you need is a printer, which happens to be cheaper than your traditional school textbook.
Scheduled Classes: Having a structured class schedule helps some stay on-task. It’s nice to know you have to be somewhere and creates a routine you may enjoy more than the unstructured nature of online. Regardless, you will be entering an industry that requires you to make your own schedule. Learning to set aside your own time to complete online courses and study for the exam will help you get ready for this new career.
Deciding which environment is right for you will help you succeed in becoming a real estate agent. Whatever type of school you choose, good luck! The Ohio Real Estate Exam can be daunting, but with the right support and resources, anything is doable.
Real Estate Education Made for You
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