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This is a little off topic but it ties economics to Saban's hire. While at work today an independent real estate agent came in to purchase some things. I have known the guy for about 15 years now as we started shooting the bull. I asked him how business was and he said terrible around here (as our home town is about 2 hrs away from Tuscaloosa) but it's great in Tuscaloosa. He then said no bragging intended I have sold 4 condo units in the last couple of weeks in the range of about 300k-500k and every unit that has sold the buyers have written a single check for them. I asked him what the deal was and to why this was happening. He said #1 the tornado had opened up so much but then he said #2 was Saban. He then said way back before the tornado it was clicking along about as well. I thought that was pretty interesting thinking about how the hire of Saban has had a wripple affect even with economics of a city. The last thing that he said that most of the buyers have had in common was they all said the only reason why they bought was because the football program was at an all time high with the hire of Nick Saban and they wanted to cherish every second they could. Talk about one heck of hire if you look at it like that guys. This may be old news to most/some of you guys but it really hit home with me after him telling me that today. Its just unreal how much Saban has done for everything and not even meaning to do so. Anyways I thought that was pretty cool to know carry on
This post was edited by The Truth67011 18 months ago
No doubt. I work for a property management company in Tuscaloosa and you wouldn't believe the price increases and the increase of sales over the last 5 years. Some of our units have seen a 75% price increase over that time period. We have built three condo complexes basically on campus in this time frame and the majority of the units sold before completion and a few before ground breaking. Coach Saban's daughter lives in one of the units. Cade Foster lives in another.(Good kid and very nice family.)
I know this all isn't due to the football program. Some of it has to do with enrollment increases and different things, but I would say 50% of it, maybe more, has to do with how well the football program is doing.
This is called price elasticity of demand. As the product becomes more appealing the demand for that product increases therefore the price increases.
Agreed. Kind of reminds me of the huge boom in Orange Beach after Hurricane Ivan. I just hope the crash ending doesn't hit T-town.
On Alabama: CeCe Jefferson - "It was a bunch of beautiful women..." Reggie Ragland - "oh the females of course..."
Where is Tucaloosa?
ha i knew something looked wrong thanks
Thanks for correcting...Roll Tide!
Let's not forget where the "real" housing demand for originated. The city of Tuscaloosa is reaping a LOT of rewards from the increased enrollment efforts of Robert Witt, which really started rolling way back around 2005ish. That was about the time ground was being broken to accommodate incoming freshmen in dorms and other infrastructure began to be put in place. This is the rock that's caused the demand we are seeing today. But as a poster pointed out, Coach Saban's hire has definitely created even more allure to the already high-in-demand on-campus housing market.
"The Lord just wasn't with us, Coach."
"The Lord," grumbled Bryant, "expects you to block and tackle."
Rick Bragg, August 8, 2012
I couldn't agree more and I tell visitors the same thing. Restaurants, hotels, new businesses.... all because of Nick Saban and winning big. With that being said, I'm a little worried about what will happen to Tuscaloosa when Saban retires and we possibly have a dip in performance (8-9 win seasons). Off the top of my head, I know of at least 5 businesses that will tank. Gameday condos are struggling (they're selling...but we built way too many), and those will certainly be crushed if we have a string of mediocre seasons. It's really scary how much power Saban has. That's why you hear people in the media claim that Saban is underpaid. He needs to be our coach until he's 107.
This post has been edited 2 times, most recently by tarheel03 18 months ago
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