From WalletPop’s Tom Barlow:
" I spoke with Wilhelmina Klosterman of Grand Lake Realty, who told me that since they were forced to add "EPA issue" to listings, home sales have virtually died. She has one $1 million listing that isn’t selling although the price has been cut to $785,000. Another $97,000 home has drawn no interest even after dropping the price to $79,900. Another part of the problem is lenders, who are unwilling to take a chance in this market. Klosterman also rents camp spaces and motor homes to people who visit the lake for summer recreation. This summer, her business has been abysmal.
Donna Grube of the Convention and Visitors Bureau of Mercer and Auglaize Counties, told the Dayton Daily News that tourism dropped by 16% last year after a smaller and shorter-lived algae bloom formed, causing the EPA to issue warnings. This year, 2,600 people’s jobs are threatened because their work is dependent on the tourism business in the area."