It shouldn’t be surprising but it’s gratifying to see in print: according to the Urban Land Institute’s “Emerging Trends in Real Estate 2015” research report, investors should buy real estate where social media lives—and it’s certainly alive and well in Columbus.
The report, compiled yearly by ULI and PricewaterhouseCoopers LLP, is in its 36th year and is a highly regarded trend and forecast publication based on interviews of real estate industry experts.
Each year’s interviewed experts give insights and sentiments that the research team dubs “Expected Best Bets” because they deserve particular attention. Number two on that list for 2015 is “Exploit Technology as an Ally of Real Estate, Not Its Enemy.”
Although the [social media] technology is “virtual,” those using it are very much flesh-and-blood. The densest social networking markets are also the densest physical markets for real estate. That shouldn’t be surprising, but it is to many people who have bought the “death of distance” story, the concept that location doesn’t matter as much in an electronically connected world. That idea is, in a word, debunked. Entrepreneurship studies, venture capital placement, biotech patents, and real estate values themselves have all now produced impressive evidence that place still matters.
Place does matter. Columbus is a city full of Facebook and app-loving millennials who know how to use those social media tools to communicate quickly and effectively. It’s also full of businesses and organizations implementing those same social media strategies for growth and the creation of a more robust economy for Columbus residents—do a quick Google search on “Columbus Ohio social media marketing companies” and it’s pretty plain to see.
We’re investing here in our social media tools and those who know how to use them, and in the process strengthening our real estate market, too.