Many Cincinnatians will have visited Corryville Angel Hospital, or know someone who has. What they may not be aware of is the history of the now crucial medical facility, and how women in particular held an influential role in the sale of the $23.5m building. In an industry typically dominated by male bankers and the beneficiaries of inherited wealth, the Cincinnati real estate industry has bucked the trend – and continues to do so today.
The housing market designed for women
The foundation of a female-influenced real estate market lies in the housing stock itself. According to research reported in Biz Journals, Cincinnati is a top 20 market for working woman friendly housing. What’s more, good average house prices – around $225k – are retained long into the lifetime of the house, making equity release realistic and the reverse mortgage more feasible for retired women or those working later in life. Essentially, the market is geared towards empowering women to be able to work independently throughout their career and enjoy their retirement to a greater degree.
Pulling in national interest
This positive backdrop has encouraged female business leaders to become involved in Cincinnati. Last year, Titan Real Estate Group opted to move its operations into Cincinnati, rather than any other location. Now, according to The Enquirer, the company is helping to further enfranchise women in the city by building new and affordable working homes. When a large company opts to relocate to a location because of its female-positive culture, it’s a good sign for all involved.
REIA’s continuing involvement
Underpinning the continued movement towards a female-driven property market is the Real Estate Investors Association of Greater Cincinatti. Vena Jones-Cox, an expert in Ohio real estate and long-time veteran of the industry, is the current chair of the association. Furthermore, they regularly schedule events which look at the role women can play in the city’s real estate industry and how it can continue to improve in the future. Clearly, influential bodies are not content just with a market friendly to women, but want to actively encourage them to take control, too.
Women are playing catch-up in countless areas of the job market and economy. One place and area that isn’t letting women down is Cincinnati’s real estate sector. More than just a positive environment for women, the evidence shows that women in fact run the show.