Thursday, February 19, 2009

Spoke too soon - more real estate

Don't need me to just repeat news, but note the news on foreclosures

Residential foreclosures in the Pittsburgh area dropped for the second year in a row in 2008, a 6.6 percent decline from 2007....
What I don't get, I thought we knew this already? So what I said earlier is that it's not just one year's decline, but a 2nd year of decline. How many regions in the country have seen two straight years of decline in foreclosures? Compare the local numbers to the recent news from up the turnpike on record foreclosures in Ohio.. although it notes there are the first signs of decline in some of the hardest hit areas.
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More on Howard Hanna's meeting in Cleveland worth a scan. It sounds like it was kind of... different?

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Best line in the news yesterday in of all places a story about another hotel project on the North Side.
It might not be long before hotel rooms outnumber Pirates fans on the North Shore.

I hate to say it out loud... but is there a connection between investment there and the NSC?

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Speaking of the NSC... I would love to poke fun at the Port Authority over this.. but even that might be a bit unfair given just how screwey the world is these days. Nonetheless, it is about as odd a story as I ever heard in some time on how they are going forward with the project because they 'think' there is money in the stimulus package for them. You could paraphrase that story as: We speculate that possibly.... hopefully... if we understand the Aramaic that the bill was written in... or if we're just plain lucky... that there might be $100 million dollars in there for us somewhere, but we really aren't quite sure about that.

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Passed on by Jim R: Another Jero sighting.

2 Comments:

Anonymous johnny g said...

Of course there's a connection between the NSC and North Shore development. One may speak it terms of how "flexible" and "mobile" busses are because they don't need expensive, fixed infrastructure. But one only needs to look at the metros in DC and LA to understand the development potential of rail. Planned right, significant urban development happens at major rail stations and rail-bus junctions. See Roslyn, Virginia (merge point for Metro Blue-Orange Lines), any stop on the Red Line between Downtown DC and Bethesda, or even better, the transformations of the U Street corridor (think of it as DC's Hill District) after the arrival of the much-delayed Green Line or Anacostia neighborhood (think of it as DC's Lincoln-Lemmington) at the other end of the Green Line, where the Nationals' Stadium now stands. Transit can be a development tool, a lesson Pittsburgh has not seemed to learn.

Thursday, February 19, 2009 8:23:00 AM  
Blogger Sandeep said...

The current market scenario has brought everyone on his toes. One should be careful before investing in real estate. Do confirm prices by other builders/other sources.
Idaho Real Estate

Saturday, July 18, 2009 5:59:00 AM  

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